The new owners of northern Victoria's famed SPC fruit processing business have sold the company's Kyabram jam and sauces plant to the new group which took over the iconic IXL jam and Taylor's brands a year ago.
Last September, SPC, then owned by Coca-Cola Amatil, sold its IXL and Taylor's marinades and sauces brands to another new group, the Kyabram Jam Company, established by Sydney-based fund manager Millinium Capital Managers.
SPC itself was itself subsequently offloaded by CCA in June, having recorded modest trading losses last year.
Details of this week's Kyabram factory's sale value have not been disclosed.
The sale of the IXL and Taylor's brands is another step towards establishing the right business strategyRobert Giles, SPC
The jam operation, once part of agribusiness giant Elders under the leadership of brash, high profile Melbourne businessman, John Elliott, has changed hands three times in the past 30 years.
New SPC chief executive officer, Robert Giles, said the Kyabram plant's new investors would continue to process the IXL and Taylor's brands from the existing site, with the existing workforce.
The jam business was committed to local production and jobs and "continuing the supply of these world-class products".
"Over the past few months we have started several important strategic projects, recruited the right team, hired more permanent staff and commenced the process of opening new sales channels and overseas markets," Mr Giles said.
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"The sale of the IXL and Taylor's brands is another step towards establishing the right business strategy.
The famous IXL name is Australia's leading locally made jam brand, established in Hobart 128 years ago by Henry Jones' H. Jones and Company.
In 1895 the company began operations in Melbourne at the "jam factory" site which became corporate offices for John Elliott's merged Elder Smith Goldsborough Mort and Carlton and United Breweries business (Elders IXL) in the 1970s.
The IXL brand and processing plants were sold in 1989 to US company J. M. Smucker Co and again in 2004 when it was bought by SPC.