An Undera man and a prominent Malaysian businessman are behind the purchase of Kyabram's IXL jam factory from SPC.
SPC last week announced the sale of the factory — which makes IXL jam and Taylor's marinades and sauces — to Kyabram Jam Company.
The company was registered with ASIC in September.
The directors are Adam Pretty from Undera and Loi Tuan EE from Malaysia. The holding company is the Holstein Milk Company.
Mr EE became involved in the dairy industry about 10 years ago in Malaysia, to develop a major fresh milk delivery system in a market dominated by reconstituted products.
He started his dairy with about 60 cows imported from Australia and his herds now number about 3500.
His company offers a range of fresh, flavored, and cultured milk and yoghurt drinks, with an emphasis on reaching shelves within 48 hours of milking.
Mr Pretty was contacted by Country News but did not wish to comment on the factory's purchase.
SPC’s chief executive officer Robert Giles said the new owners would continue to process the IXL and Taylor’s brands from the existing site in Kyabram, with the existing workforce.
The new owners are committed to local production and jobs by continuing the supply of these world-class products.
“Over the past few months of SPC’s new ownership we have started several important strategic projects, recruited the right team, hired more permanent staff and commenced the process of opening new sales channels and overseas markets,” Mr Giles said.
“The sale of the IXL and Taylor’s brands is another step towards establishing the right business strategy.
“We remain very positive about the future of this business and work is under way on some other exciting initiatives, new products and solutions that will appeal to a broader market at home and abroad.”
The commercial terms of the Kyabram factory sale were not disclosed.
SPC's former owner, Coca-Cola Amatil, tried unsuccessfully to sell the factory. A proposed deal with Sydney investors fell through last year.