SPC Global has announced a merger with The Original Juice Co (OJC) and Nature One Dairy, with plans to execute a global growth strategy.
The three-way merger is set to create a $400 million company with Robert Iervasi, former Asahi Beverages CEO and current SPC Director, appointed as Managing Director of the new business, which will own and operate three divisions: SPC, The Original Juice Co., and Nature One Dairy.
“With our market leading packaged fruit, canned tomatoes, and baked bean products, we are excited to expand with OJC both domestically and globally and see significant synergy potential in bringing the two producers together.
“Proud of our 100-plus year history and our Shepparton roots, SPC looks forward to working with the OJC team to accelerate growth and leveraging the combined platform to enhance distribution of our products. The addition of Nature One Dairy also allows us to diversify and reach more consumers every day through our international channels,” said Iervasi.
The three businesses all bring something to the table. SPC is Australia’s largest producer of fruit, tomato, baked beans and spaghetti processing, packaging, and canning, with some of the country’s most recognisable brands.
OJC has sourced and produced fresh juice for over 30 years, becoming one of Australia’s most well-known food processing companies, specialising in child fruit and vegetable juices. While Nature One Dairy, a Singapore registered but Australian-founded dairy company, sells powdered milk and has a foothold in Asia.
Steven Cail, CEO of OJC, said this is a transformational moment for OJC, bringing its premium portfolio of juice products and processing technology together with the two other businesses, creating significant production capability to create a food and beverage producing market-leader.
“The strategy has always focused on setting up the business for future growth and synergies, and I am extremely excited about what the future holds for OJC. The OJC team is excited to join the 100-year legacy of SPC and contribute to taking the Combined Business forward in its next phase of success.”
With Iervasi serving as Managing Director, David Mallison will serve as Interim CFO, and OJC and NOD’s CEOs, Cail and Nick Dimopoulos will continue with the combined business post completion of the transaction to ensure a successful transition. Hussein Rifai will be chairman of the combined group.
Rifai said the transaction is a critical step in advancing the global strategy that has guided SPC since its divestment from Coca-Cola Amatil (CCA).
“Our goal is to create ‘better, healthier food for the future.’ Since acquiring SPC from CCA, our strategy has been to firmly establish ourselves as a leader in both the Australian and global markets. Building a strong foundation in our home market is vital for sustainable growth and success.
“Our immediate focus is on solidifying SPC’s position as a domestic market leader. This is the essential first step before executing our broader global strategy, which targets key international markets, particularly in Asia, where we see significant growth opportunities.”
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