Listeriosis outbreaks shuts another Tiger Brands facility

SOUTH AFRICA - All products manufactured at Value Added Meat Product's (VAMP) Pretoria facility are being recalled by Tiger Brands‚ including the company’s Snax brand‚ as a precautionary measure‚ Tiger Brands said on Monday. Production at the plant will also be suspended. "This decision was taken as a result of the detection of Listeria monocytogenes at…

Tiger Brands flags loss at meat unit after listeria outbreak

SOUTH AFRICA - South Africa’s Tiger Brands said on Monday it expected its meat products unit to record a monthly loss of up to 33 million rand ($3 million) after it suspended operations at four sites over a listeria outbreak that has killed 180 people in 14 months. Health authorities ordered a recall of processed…

Tiger Brands, RCL Foods lost US$479.59 million in one day after Listeriosis Outbreak

SOUTH AFRICA - Shares in South Africa’s biggest consumer foods producer Tiger Brands and RCL Foods fell on Monday after the government linked a deadly listeria outbreak to cold meat products “polony” made by Tiger unit Enterprise Food. Tiger Brands lost about US$479.59 million in market capitalisation just in one day, based on a number…

Tiger Brands division to recall affected products, but conducting own Listeriosis tests

SOUTH AFRICA - Tiger Brands, on behalf of its division Enterprise Foods, has committed to recalling products that are identified with listeriosis outbreak, but are conducting its own tests as well. This follows an announcement by Health Minister Aaron Motsoaledi and the National Institute of Communicable Diseases (NICD) on Sunday that the source of the present…

Kenyan businessman Kirubi completes buyback of Haco Tiger Brands

KENYA - Businessman Chris Kirubi has taken back full control of Haco Tiger Brands East Africa after acquiring Johannesburg-based Tiger Brands’ 51% stake in the fast moving consumer goods manufacturer. Mr Kirubi in 2008 sold the stake in the firm –then trading as Haco Industries- to the multinational for more than US$2.95 million. “As previously…

Tiger Brands shares price fall by 9% under pricing and volume pressures

SOUTH AFRICA - Shares in Tiger Brands plunged 9% after the consumer goods group said sales fell in the four months to January because of pricing pressures and volume declines. Analysts said the weak trading update indicated that consumers were under intense pressure and the tax hikes could make consumers worse off. Fast moving consumer…

Tiger Brands eyes Africa expansion, with caution

SOUTH AFRICA - Tiger Brands was looking for acquisitions outside SA and would place more emphasis on due diligence than in the past, management said on Monday. CEO Lawrence MacDougall said the consumer goods group had a "clearer" acquisition strategy that focused on core product categories. Tiger had also "upweighted" due diligence considerations and would…