The Victorian government has stepped in to safeguard the future of SPC Ardmona following last month’s decision by the Australian government not to bail out the troubled fruit packer.
The Australian government has rejected a plea by beverage maker SPC Ardmona for an AU$25m (US$21.8m) bailout package, calling on the firm’s parent company to the rescue of its local subsidiary.
Once-surging demand has slowed among Australian consumers over the last quarter, according to Coca-Cola Amatil (CCA), the maker of Coke in the country.