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.

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