SPC Ardmona has halted the sale of its Australian iconic brands, IXL Jam and Taylor’s Marinade and Sauces, to Kyabram Conserves. The sale was originally scheduled to be completed on 31 October 2018 but will now not go ahead. No details have yet been given as to why the sale was cancelled.
Parent company, Coca-Cola Amatil (CCA) said that next steps will be considered while the brands undergo the strategic review announced in August.
CCA group managing director Alison Watkins announced the review at the company’s half-year profit results, saying that a sale, partnership or merger were among the options to be considered.
“We believe there are many opportunities for growth in SPC, including new products and markets, further efficiency improvements, and technology and intellectual property. Importantly, there are no plans to close SPC. We see a positive future for SPC as it continues to transform its operations,” Watkins said.
SPC first revealed its plan to offload IXL Jam and Taylor’s Marinade and Sauces to Kyabram Conserves in September. SPC managing director Reg Weine said that the company has a “great sense of responsibility in ensuring these heritage brands found a good home”. IXL Jam is the second highest selling jam in Australia.