CHOICE membership

SPC Bought Back By Australian Joint Venture (or were they?)

SPC is being sold by Coca-Cola Amital to an Australian joint venture.

Great news.

Why would anyone keep buying baked beans from foriegn multinational Heinz which are made in New Zealand instead of an Aussie owned and manufactured product?

And that is without even considering the fact that Heinz has shrunk their cans to a mere 300g and jacked the price up to $2.00 a can whilst SPC is still 425g for $1.15.

5 Likes

At least it is staying in Australian hands (from and Australian listed public company to an Australian private joint venture). There was a risk it would be taken over by a foreign owned multinational which may have changed the nature of its operations.

Hope the new owners are in for the long haul and ultimately provide certainty for the contract farmers who supply fruit and vegetables and SPC employees.

3 Likes

It seems the ‘shoe’ (is there another yet to drop or is this one still in play?) is not what it appeared.

2 Likes