Peter Kelly was the one who saved SPC from closure and turned it around. Reg joined SPC in May 2015, in the middle of the $100M investment program that Peter Kelly instigated.
Reg's task was to take the investment and make SPC profitable. By 2019, 4 years after Reg took over, the business was still not breaking even and CCA slashed the book value of SPC by $146 million to zero in February after putting the business up for sale in November, following a strategic review.
SPC's new owners ( joint venture between Sydney-based boutique investment house Perma Funds Management and The Eights, a Sydney-based private equity firm ) aimed to transform the 100-year-old fruit and vegetable processor into a global food company after buying it from Coca-Cola Amatil for $40 million, less than a 10th of the $490 million CCA paid for it.
All fact checkable Mr Aquasea.
BUB Price at posting:
19.5¢ Sentiment: Sell Disclosure: Not Held
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