SPC has announced it has successfully sold off its IXL and Taylor’s brands.
It is being described by the company’s chief described the sale as good news for the brands and for the region.
SPC director Reg Weine has said it was preferable for the company to concentrate on areas where it had a strong competitive advantage.
In January, the group revealed it planned to sell the two ‘‘iconic’’ brands.
SPC yesterday confirmed it had sold the two brands to the Kyabram Conserves company. The commercial terms of sale have not been disclosed.
Mr Weine assured the new owners would continue to process IXL and Taylor’s locally from the existing site in Kyabram, with the existing workforce.
‘‘This is a good outcome for IXL and Taylor’s and good news for the Goulburn Valley,’’ Mr Weine said.
‘‘IXL and Taylor’s are great brands, but the spreads and sauces/marinades categories were a small part of the SPC portfolio and it was better we focused on areas where we have a more distinct competitive advantage.
‘‘However, we had a great sense of responsibility in ensuring these heritage brands found a good home and that’s been achieved in this sale. We welcome the commitments from the new owners for continued local production and jobs, and a continued focus on delighting Australians with this world-class range of jams, sauces and marinades.’’
In January, Mr Weine highlighted a desire to consolidate the company’s manufacturing base in Shepparton as a key driver.