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…
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…
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…
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…
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…
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…
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…
SOUTH AFRICA – Tiger Brands is refining its rest of Africa strategy, saying it will adopt a more focused approach when entering new territories.
SOUTH AFRICA – Tiger Brands reported aftertax profit of R3.3bn for the year to end-September — 3.5 times higher than the previous year’s R942m, which was dragged down by a R2.2bn write-down of its Nigerian acquisition Dangote Flour Mills.
SOUTH AFRICA – Tiger Brands reported aftertax profit of R3.3bn for the year to end-September — 3.5 times higher than the previous year’s R942m, which was dragged down by a R2.2bn write-down of its Nigerian acquisition Dangote Flour Mills.
