SPC Global is in discussions with The Original Juice Co. (OJC) for a potential merger, the Australian Financial Review (AFR) has reported.
OJC, which is chaired by former Victorian Premier Jeff Kennett, has a market value of around $50 million. The AFR reports that merger talks are well-advanced, and a deal would see SPC Global own 75 per cent of the combined entity.
In October last year, SPC raised $20 million in capital the Goulburn Valley community in order to improve equipment, develop new products and funding potential acquisition opportunities.
SPC has a portfolio which includes the brands Provital, Street Eats, SPC, Ardmona, Goulburn Valley, and Pomlife, offering a diverse range of products such as fruit and vegetables, ready-made meals, and quesadillas.
The AFR has reported that Kennett and Hussein Rifai, Chairman of SPC, are aiming to create a group of agricultural assets that would make farmers more competitive against international rivals.
Yesterday, the ASX-listed The Original Juice Co. voluntarily requested a pause in trading pending a market announcement.
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