Coca-Cola Amatil has completed the $40 million sale of its SPC fruit and vegetable processing business to Shepparton Partners Collective.
The beverage giant said on Monday it expected to record a $14 million profit on sale, while the deal first mooted in August 2018 also includes a four-year earnout structure that could deliver an additional $15 million of sale proceeds.
Coca-Cola Amatil group managing director Alison Watkins said the company would now focus on its beverages performance.
“SPC has been a much-loved part of our portfolio since 2005, and we’re confident it has a bright future in the hands of its new owners,” Ms Watkins said.
Shares in Coca-Cola Amatil were worth $10.22 before trade on Monday having gained nearly 25 per cent in value so far in 2019.