SPC sold for $40 million

Perma’s managing director, Mr Hussein Rifai, confirmed that all permanent staff at SPC would be offered ongoing employment.

"We are delighted to have acquired SPC, one of Australia’s most iconic businesses," Mr Rifai said in an ASX statement.

"We believe there is enormous opportunity to grow this unique 100-year-old brand further domestically and internationally,”

CCA expects the sale to be completed by the end of June.

See next week's Country News for more.