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News

SPC Ardmona - sales of assets cancelled

28/11/2018 - François-Xavier Branthôme - Lire en français

The sale of Australian food manufacturer SPC Ardmona's IXL jam and Taylor's sauces business to Kyabram Conserves has fallen through.

The Coca-Cola Amatil-owned firm, which also produces packaged fruit, tomatoes and baked beans, had been looking to sell the assets since the start of the year.
It announced in September a deal had been done over its IXL jam and Taylor's sauces products with Kyabram, a newly-established company backed by Sydney-based fund and asset manager Millinium Capital Managers. The terms of the deal were not disclosed.

But Coca-Cola Amatil has announced on 26 November that the deal is off and the IXL and Taylor's brands will remain part of SPC. "The sale to Kyabram Conserves, which was scheduled for completion by 31 October 2018, will no longer be proceeding," it said. It added "any next steps for the IXL and Taylor's Marinade and Sauces brands will be considered in conjunction with the strategic review of growth options for SPC announced by Coca-Cola Amatil on 22 August 2018".

Some complementary data
See also our article (05/10/2018) http://www.tomatonews.com/en/australias-spc-ardmona-sells-taylors-sauces_2_512.html
and (23/08/2018) http://www.tomatonews.com/en/australia-coca-cola-amatil-to-sell-its-spc-fruit-and-tomato-processing-business_2_464.html

Source : just-food.com

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