20-24 FEBRUARY 2023
DUBAI WORLD TRADE CENTRE

20-24 FEBRUARY 2023
DUBAI WORLD TRADE CENTRE

SPC announces the completion of its growth capital round of funding

2022 Exhibitor Press Releases

SPC announces the completion of its growth capital round of funding

SPC Global Hall: Trade Centre Arena Stand: S-312
SPC announces the completion of its growth capital round of funding
SPC ANNOUNCES THE COMPLETION OF ITS GROWTH CAPITAL ROUND OF FUNDING SPC Global Limited (‘SPC’) today announced the completion of its capitalisation program which resulted in the injection of $111 million earmarked for its next phase of growth. The new growth capital is a combination of equity investments by The Australian Meat Industry Superannuation Trust (AMIST); the family office of Mr. Khalil (‘Charlie’) Shahin AO, Managing Director of Peregrine Corporation; and the sale and leaseback of the flagship SPC property in Shepparton to Charter Hall. Hussein Rifai, the Chairman of SPC, said: ”We couldn’t be happier with the quality of our new partners, all of whom are leaders in their industries. But perhaps, most importantly, they are all Australians who support our aspirations of making SPC a global business.” Rifai said “I am also delighted to welcome Mr Murray Rutherford and Mr Charlie Shahin AO to our Board. Their vast knowledge and experience in the food industry will contribute immensely to the growth of SPC.” Murray Rutherford, Chief Executive and Investment Officer of AMIST, said: “We are delighted to invest in such an iconic Australian business with successful turnaround. AMIST originated in the Australian food industry and we are delighted to again support the sector. I look forward to participating as a director of SPC and to contributing to its globalisation strategy.” Investing through his family office, Charlie Shahin AO is the Managing Director of Peregrine Corporation. Shahin is an Australian business leader and the eldest son of Fred Shahin OAM, who founded Peregrine Corporation in 1984. Peregrine is one of the Top 10 private companies in Australia and is the largest private company in South Australia. Peregrine operates across several industries including service stations, convenience stores and food outlets, as well as farming with an annual revenue of around $2.9 Billion. Charlie Shahin AO, Managing Director of Peregrine Corporation, said: “In assessing this investment opportunity, I saw the benefits of partnering with a highly reputable Australian-owned and run business. Our investment is a vote of confidence for SPC’s management and strategic plans, particularly the expansion of its Australian and global footprint, with the aim of replacing imports wherever possible. The SPC journey is one that I look forward to being part of”. The sale and leaseback of SPC’s flagship property on Andrew Fairley Avenue, Shepparton (VIC), to Charter Hall (ASX: CHC) formed an integral part of the growth capitalisation program. Charter Hall has diversified Funds Under Management in excess of $80 billion. Sean McMahon, Chief Investment Officer of Charter Hall, said: ”We are delighted to be part of the SPC success story and look forward to supporting SPC as its property partner. We are proud to be associated with one of Australia’s most trusted and iconic brands in the food manufacturing and consumables sector. Robert Giles, CEO of SPC, said: “We are delighted with the new partnerships and look forward to working with our new Board, and welcome the knowledge and experience they bring. SPC is committed to reinvesting
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