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SPC sold for $40 million

By Alana Christensen

Coca-Cola Amatil has announced SPC will be sold for $40 million to Shepparton Partners Collective and its group of companies.

Shepparton Partners Collective is a joint venture between Perma Funds Management and private investment firm The Eights.

Perma’s managing director, Mr Hussein Rifai, confirmed that all permanent staff at SPC would be offered ongoing employment.

"We are delighted to have acquired SPC, one of Australia’s most iconic businesses," Mr Rifai said in an ASX statement.

"We believe there is enormous opportunity to grow this unique 100-year-old brand further domestically and internationally,”

CCA expects the sale to be completed by the end of June.

See next week's Country News for more.