SPC targets GV investors with new capital raise

Oct 30, 2023

SPC is targeting Goulbun Valley investors to help take the company into the future. Photo by Megan Fisher

In an Australia first, SPC Global has launched a capital raise aimed at investment from one geographical location only — the Goulburn Valley.

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As it looks to global growth, SPC says the capital raise will provide locals with the opportunity to invest in a company that has supported its community for more than a century.

SPC Global’s chair Hussein Rifai said SPC was started in the Goulburn Valley by shareholders from the Goulburn Valley in 1917.

“The shareholders remained primarily from the Goulburn Valley until the company was bought by Coca Cola Amatil in 2005,” Mr Rifai said.

“We want to give the original shareholders and their family the opportunity to become shareholders again.

“Since we acquired the business in 2019, SPC has achieved a significant turnaround, with arguably one of the most successful in Australian corporate history.

“We have re-engineered the business model to grow revenues and improve our gross margins,” Mr Rifai said.

“We have changed the management team bringing in experienced senior leaders, improved the channel mix, made key acquisitions, optimised our supply chain, modernised, and innovated with new product development, all while reducing manufacturing costs.

“Now is the time for us to look to high growth and global expansion, as we aim to position ourselves as a multi-billion-dollar global, high-quality food and beverage company.

“We want to take SPC to the world and as our heritage lies in the heart of the Goulburn Valley, we want to provide Goulburn Valley locals with the opportunity to be a part of the SPC business for generations to come.”

Mr Rifai said the capital raise aimed to fuel the next phase of global growth through innovation, channel expansion and acquisition.

The owners of SPC have invested around $140 million since the acquisition, he said.

New investors will be investing alongside a large Australian industry pension fund, Australian family offices of key stakeholders and other experienced Australian investors.

“Together, SPC Global will continue to take our Australian-based agribusiness to the world stage and build on Australia’s positive reputation for high quality products beyond our borders,” Mr Rifai said.

By McPherson Media Group