SPC bets on pomegranates with PomLife acquisition

SPC bets on pomegranates with PomLife acquisition

One of the country's largest fruit processors SPC is plunging into the world of pomegranates after acquiring superfood brand PomLife, which over the course of 12 years has helped put the fruit on the map in Australia.

Pomegranates have become more noticeable in Sydney and Melbourne's trendy cafés and restaurants over the past few years, and SPC sees parallels with the early adoption of avocados into mainstream cuisine in the late 1960s and early 1970s.

PomLife was established in 2008 by Australian Pomegranate Growers (APG) in the Goulburn Valley.

Under the deal APG will still own and harvest its pomegranate orchards, but SPC has assumed ownership of the manufacturing processing plant.

"As we continue to grow SPC into a global leader in the food and beverage market, we have been investing in expanding our range within our fruit basket," says SPC CEO Robert Giles.

"Bringing PomLife, a neighbourhood business from Ardmona, into the SPC family, was a natural addition.

"As PomLife's operation gets integrated into our Shepparton plant, we will increase our plant utilisation around the year and expand our fruit portfolio to include an amazing range of new pomegranate-based products." 

In addition to their status as one of nature's superfruit and snacks, pomegranates used in desserts, confectionery, marinades for both lamb and poultry and an ingredient in baking.

"We are proud to have played a part in introducing the Australian community to this wonderful fruit with all its benefits," says APG CEO Gal Shapir.

"The PomLife brand has found a new home at SPC, where it can thrive and reach new heights. APG will continue to develop our orchard and support the iconic SPC business in their future endeavours in the pomegranate space and beyond."

The announcement comes during a busy day for Australia's horticultural sector, after Western Australian property company Primewest (ASX: PWG) made its foray into a $100 million agricultural investment plan with the purchase of a Riverina farm leased to tomato producer Kagome.

Yesterday Australia's largest vertically integrated fresh produce company Costa Group (ASX: CGC) announced Wayne Johnston had been appointed to be its new chief financial officer (CFO), starting from 29 June 2020.

Never miss a news update, subscribe here. Follow us on Facebook, LinkedIn, Instagram and Twitter.

Business News Australia

Get our daily business news

Sign up to our free email news updates.

 
Finexia’s Childcare Income Fund secures ‘very strong’ rating from Foresight Analytics & Ratings
Partner Content
Private credit specialist Finexia Financial Group (ASX: FNX) has secured a “very...
Finexia
Advertisement

Related Stories

Founder-led Solution Underwriting acquired by UK insurance provider CFC

Founder-led Solution Underwriting acquired by UK insurance provider CFC

After 14 years in business and with 55 staff spread across four Aus...

Billionaire pubs baron Mathieson boosts holding in The Star back to nearly 10pc

Billionaire pubs baron Mathieson boosts holding in The Star back to nearly 10pc

Pubs baron Bruce Mathieson has taken advantage of a slump in The St...

Don’t understand predictive algorithms? Xplainable bridges the “how and why” gap of machine learning

Don’t understand predictive algorithms? Xplainable bridges the “how and why” gap of machine learning

"There is so much hype around AI. Let's just focus on...

IHG teams with Felix Capital for four-star Holiday Inn at Caloundra

IHG teams with Felix Capital for four-star Holiday Inn at Caloundra

IHG Hotels & Resorts has partnered with Sydney-based Felix Capi...