Coca Cola Amatil to sell SPC

Company News

by Rachael Jones

Coca Cola Amatil (ASX:CCL) has decided to sell its SPC fruit and tomato business in Shepparton in Victoria.

Group Managing Director Alison Watkins says there are many opportunities for growth in SPC but a review concluded that the best way to unlock these opportunities is through divestment. 

Coca Cola Amatil is expected to record a full year loss of around $10 million.

Watkins says it will enable the company to sharpen its focus as a beverages powerhouse.

Shares Coca Cola Amatil (ASX:CCL) are trading 10.2 per cent lower to $9.07.
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.