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SPC Global Limited
FormerlySPC Ardmona
Predecessors
  • Shepparton Preserving Company
  • Ardmona
Founded2002; 22 years ago (2002)
ParentCoca-Cola Amatil (2005-2019)

SPC Global Limited, trading as SPC Australia and formerly SPC Ardmona, is an Australian-based company that specialises in large fruit packing and owns and operates a canning factory in Shepparton. SPCA closed its Mooroopna processing plant in 2011.[1] It sold its Kyabram factory in 2019. It was owned by Coca-Cola Amatil from 2005 until 2019.

History

SPC Australia was formed in 2002 by the merger of the former Shepparton Preserving Company (SPC) and Ardmona.[2] SPC was incorporated as a public listed company in 1912, and Ardmona opened in 1921.[2] SPC Ardmona was bought by Coca-Cola Amatil in 2005 for A$520 million. It sold it in 2019 for A$40 million to Shepparton Partners Collective. In that time, CCA had also invested about A$250 million in infrastructure, and the Victorian government had provided A$22 million in co-investment.[3]

SPC Australia carries the SPC, Goulburn Valley and Ardmona brands. It acquired IXL and Taylors brands in 2004,[4] and sold both brands with the Kyabram factory in 2019 to a group of farmers and growers in the Goulburn Valley.[5]

Financial problems

In October 2013, the company sought financial assistance from the Federal and Victorian governments to modernise it operation. SPCA requested A$ 50 million, including 25 million pledged by the then prime minister, Kevin Rudd, four days before the 2013 federal election. It wanted the Victorian Government to match the Federal grant.[6]

SPCA lost $25 million in 2013, compared to a $70 million profit 8 years earlier. In 2012, SPCA disposed $100 million of fruit bought under contract because it could not be sold, blaming it on "plummeting" local and export orders.[7] A former Coca-Cola Asia executive, Peter Kelly, went to the company in April 2013 to attempt to turn it around.[7]

In early 2014, SPCA sought $25 million of government assistance as part of a plan to upgrade the Shepparton cannery. The proposal was later rejected by the Abbott Government.[8] Shortly afterwards however, the Victorian Government announced that $22 million would be provided.[9]

In November 2016, Woolworths ended its contract with SPCA for the supply of tinned tomatoes and would not renew it. However, the five-year deal to provide tinned fruit was ongoing.[10]

Turnaround

In March 2014, SPCA signed a deal with Woolworths to supply an extra 24,000 tonnes (53,000,000 lb) of local product, worth $70 million, over five years.[11] They will supply Woolworths with beans,[12] canned tomato soups and all its home brand fruit.[13]

Peter Kelly, SPCA managing director, said that Australian consumers were buying more fruit in response to the company's problems, with sales in the first 2 months of 2014 up by 60%[11] at Woolworths alone.[12]

In June 2019, it was announced that Coca-Cola Amatil had sold the SPC business to a group called Shepparton Partners Collective, for $40 million. Shepparton Partners Collective is a joint venture between Perma Funds Management, a boutique investment house, and The Eights, a private equity firm. The sale was subject to a four-year deferred payment which, subject to business performance, could generate a further $15 million for Coca-Cola on top of the money paid up-front.[14]

SPC Football Club

The SPC Football Club won the 1945 Goulburn Valley Football Association – Lightening Premiership which was held on the King's Birthday public holiday.[15]

SPC were runners up to Shepparton East in the 1945 Goulburn Valley Football Association grand final.[16]

SPC defeated Numurkah in the 1948 Central Goulburn Valley Football League's seconds grand final.[17][18] and in 1949 SPC were defeated by Shepparton in the 1949 Central Goulburn Valley Football League's senior football grand final.[19][20]

SPC merged with Shepparton East in 1950 to form City United, later named the Shepparton United Football Club and entered a senior team in Goulburn Valley Football League.

References

  1. ^ Mitchell, Sue (1 May 2013). "Canning not so peachy". The Land. Retrieved 21 December 2013.
  2. ^ a b "Our Rich History". SPC Ardmona. 25 February 2006. Retrieved 11 March 2014.
  3. ^ Gray, Darren (4 June 2019). "Coca-Cola Amatil to sell historic SPC business for $40 million". The Sydney Morning Herald. Retrieved 5 March 2020.
  4. ^ "SPC to acquire IXL for $51 m". The Age. www.theage.com.au. 12 May 2004. Retrieved 11 March 2014.
  5. ^ Robinson, Wayne (23 October 2019). "SPC succeeds with IXL and Kyabram factory sale". Food & Drink Business. Retrieved 5 March 2020.
  6. ^ Heath, Joanna (20 December 2013). "SPC rattles the can". The Land. Retrieved 21 December 2013.
  7. ^ a b Neales, Sue (5 October 2013). "Without a $25m pledge, SPC 'risks going under". The Australian. Retrieved 21 December 2013.
  8. ^ Packham, Ben. "Abbott government rejects aid package for SPC Ardmona". The Australian. Retrieved 7 February 2014.
  9. ^ Whittaker, Jarrod (11 March 2014). "$22m lifeline for SPC Ardmona". Shepparton News. Retrieved 13 February 2014.
  10. ^ Guardian Staff; agencies (8 November 2016). "Woolworths walks away from SPC Ardmona deal on tinned tomatoes". The Guardian. ISSN 0261-3077. Retrieved 5 January 2017.
  11. ^ a b "SPC Ardmona signs $70m deal with Woolworths to supply fruit and vegetables". ABC News (Australian Broadcasting Corporation). Abc.net.au. 11 March 2014. Retrieved 11 March 2014.
  12. ^ a b "SPC wins $70m Woolworths deal". The Australian. theaustralian.com.au. AAP. 11 March 2014. Retrieved 11 March 2014.
  13. ^ Hartge-Hazelman, Bianca (11 March 2014). "SPC Ardmona signs $70m Woolies deal". The Sydney Morning Herald. Smh.com.au. Retrieved 11 March 2014.
  14. ^ Gray, Darren (4 June 2019). "Coca-Cola Amatil to sell historic SPC business for $40 million". The Age. Retrieved 4 June 2019.
  15. ^ "1945 - GVFA - Lightening Premiership". Shepparton Advertiser. 25 January 1945. p. 8. Retrieved 20 July 2020 – via Trove Newspapers.
  16. ^ "1945 - Goulburn Valley FA - Grand Final match review". Shepparton Advertiser. 25 September 1945. p. 5. Retrieved 20 July 2020 – via Trove Newspapers.
  17. ^ "1948 - Central Goulburn Valley FL - Seconds Grand Final Teams". Shepparton Advertiser. 1 October 1948. p. 2. Retrieved 12 August 2020 – via Trove Newspapers.
  18. ^ "1948 - Central Goulburn Valley FA - Grand Final match review". Shepparton Advertiser. 5 October 1948. p. 2. Retrieved 12 August 2020 – via Trove Newspapers.
  19. ^ "1949 - CGVFL - Grand Final Match Preview / Teams". Shepparton Advertiser. 16 September 1949. p. 4. Retrieved 22 July 2020 – via Trove Newspapers.
  20. ^ "1949 - CGVFL - Grand Final match review". Shepparton Advertiser. 20 September 1949. p. 2. Retrieved 22 July 2020 – via Trove Newspapers.
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