Fruit cannery SPC has announced the sale of its iconic IXL Jam and Taylor’s Marinade and Sauces to newly-formed Australian company, Kyabram Conserves.
The new owners will continue to process IXL and Taylor’s locally from the existing site in Kyabram, with all 50 existing employees remaining on board.
SPC announced in January that it would be divesting the two brands. The commercial terms of sale were not disclosed.
Managing Director Reg Weine said in a statement that it was a “good outcome” for the brands.
“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,” Weine said.
IXL is the second highest selling jam brand in Australia and SPC emphasised the need to find a suitable home in which the brands could continue to grow.
“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,” he added.
IXL was founded by Henry Jones in Hobart in 1891. His personal motto: ‘I excel in everything I do’, was the foundation for the brand’s name.
SPC parent company Coca-Cola Amatil announced a strategic review of the business in August saying a sale, partnership or merger were among options to be considered.