on air now

Not all peaches for cannery as sale looms

Coca-Cola Amatil is backing an investment in fruit processor SPC despite launching a strategic review into the struggling cannery.

The Victorian government invested $22 million into upgrading and maintaining the life of SPC in Victoria, while Coca-Cola Amatil (CCA) fronted $78 million.

Despite the injection made four years ago, SPC is under “strategic review” and is being flagged for sale.

CCA chief executive Alison Watkins tells Ross Greenwood they made a “good investment”.

“If you go back and remember how it was at the time, there was a real prospect that without that joint investment, SPC – certainly the manufacturing site at Shepparton – could have disappeared.

“That $100 million that we jointly committed has transformed our manufacturing site up at Shepparton.”

Click PLAY below for the full interview

She says they are considering options to sell SPC because of “appealing ideas” being presented.

“We had a lot of interest in SPC.

“A lot of people floating some pretty appealing ideas around how we could accelerate the growth and I think it’s really important we do explore those in a systematic way.”