Coca-Cola Amatil to sell historic SPC business for $40 million

 In Australia

The iconic SPC fruit and vegetable business based in Victoria’s Goulburn Valley will live on, after Coca-Cola Amatil confirmed the sale of the historic business for $40 million.
The sale, to a group called Shepparton Partners Collective, is expected to be completed by the end of this month and generate a profit of $10-15 million for the bottler of Coke.
Coca-Cola said the deal 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 $40 million up-front.
“This outcome is good news for SPC and good news for the Goulburn Valley,” said Alison Watkins, group managing director of Coca-Cola Amatil. Sydney Morning Herald – Read more…

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