SPC completes growth capital round of funding

SPC has announced that it has completed the growth capital round of funding, which has resulted in the injection of $111 million ready for the next phase of growth.

The capital comes from investments from the Australian Meat Industry Superannuation Trust (AMIST); the family office of Mr Khalil (Charlie) Shahin AO, Managing Director of Peregrine Corporation; and through the sale and leaseback of the flagship SPC property in Shepparton to Charter Hall.

As part of the investments, Murray Rutherford and Charlie Shahin of AMIST and Peregrine Corporation respectively become members of the SPC board.

“We are delighted with the new partnerships and look forward to working with our new Board, and welcome the knowledge and experience they bring,” said Robert Giles, CEO of SPC.

“SPC is committed to reinvesting in Australian products. In line with our vision for continued growth, we are doing all we can to highlight Australian food and beverages internationally. Local partnerships like these make our mission possible.

“SPC has an aggressive expansion plan that includes launching new products in existing and new categories, as well as acquisition plans in Australia and overseas. We are already in talks with a few parties, and expect to complete a key acquisition during 2022.”

Image credit: ©stock.adobe.com/au/N_studio