Coca-Cola Amatil set to offload SPC

Coca-Cola Amatil has put its SPC canned fruit and tomato business up for sale after it posted a $1.7 million loss in the six months to June 29.

The move comes after the soft drink company’s injection of a $100 million investment failed to turn SPC’s fortunes around, with the company seeing sales slump 12 per cent in the last financial year.

“We believe there are many opportunities for growth in SPC, including new products and markets, further efficiency improvements, and technology and intellectual property,"  said CCA's managing director Alison Watkins.  "The review will look at how this growth could be unlocked."

There were "no plans to close SPC", according to Watkins, adding that the company saw "a positive future for SPC as it continues to transform its operations".

Sheridan Randall - 22/8/18