Australian food and beverage group calls in administrators

Posted by Isobel Drake on 22nd June 2009

Financiers for Mildura-based Neqtar Australia have called in receivers PriceWaterhouseCoopers.

The move was made on Friday, with Neqtar Wine and SDS Beverages to continue operating as normal until a purchaser is found. The company, which employs around 100 staff, is in charge of the Roberts Estate Winery and their SDS Beverages group is the largest exporter of vegetable concentrates in the Southern Hemisphere.

SDS has contracts with a number of leading food groups including Coca-Cola Amatil, Unilever, Kellogg’s, Campbell’s, Parmalat and Arnott’s, according to their website.

One of the receivers called in, Paul Kirk from PwC, told Sunraysia Daily that they were confident buyers could be found for both the wine and vegetable concentrates businesses.

“We’re very hopeful of finding buyers for both,” he advised. “These are big, solid businesses and we’re going to be doing our best to ensure they’re around for a very long time.”