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TBS
TIIH
TBS - Tiger Brands Limited - Acquisition of the Status Brand and disposal of
the Mousson Brand ("the transactions")
Tiger Brands Limited
(Registration number 1944/017881/06)
(Incorporated in the Republic of South Africa)
Share Code: TBS
ISIN: ZAE000071080
("Tiger Brands or "the Company)
ACQUISITION OF THE STATUS BRAND AND DISPOSAL OF THE MOUSSON BRAND ("THE
TRANSACTIONS")
1. INTRODUCTION
Shareholders of Tiger Brands are advised that the Company has entered into an
agreement in terms of which Tiger Brands will acquire the Status trademarks
and related intellectual property, including finished goods stock
(collectively the "Status assets") from Unilever PLC and Unilever South
Africa (Pty) Ltd (hereafter collectively referred to as "Unilever"). Status
is a South African male deodorant brand which was originally owned by the
Sara Lee Corporation and was acquired by Unilever as part of the global
transaction in which Unilever acquired Sara Lee`s Personal Care business.
The South African competition authorities have approved the acquisition by
Unilever of Sara Lee`s Personal Care business locally subject to Unilever
disposing of the Status trademark. Further to this, Tiger Brands has entered
into an agreement to dispose of its Mousson trademark to Unilever. Mousson
participates within the South African foam bath and lotion personal care
categories.
2. RATIONALE
The acquisition of the Status assets provides Tiger Brands with a meaningful
presence in the South African male deodorant market segment. Further to this,
there is the potential to leverage the brand`s long standing equity into the
wider male grooming sector. The acquisition also provides Tiger Brands with
critical mass in the personal care category which will facilitate a further
optimisation of the Company`s current product portfolio. The turnover
attributable to the Status brand for the year ended 30 June 2010 was
approximately R100m and the attributable turnover for Mousson for the year
ended 30 September 2010 was approximately R24m.
3. CONDITIONS PRECEDENT
The acquisition and disposal are subject to the fulfillment of certain
conditions precedent including the unconditional approval by the South
African Competition Authorities ("Competition Authorities") in terms of the
Competition Act No.89 of 1998, as amended, or the conditional approval by the
Competition Authorities on terms and conditions acceptable to both Tiger
Brands and Unilever.
The Transactions fall below the JSE transaction thresholds and therefore are
for information purposes only.
BRYANSTON
21 April 2011
Sponsor
J P Morgan Equities Limited
Date: 21/04/2011 12:30:01 Produced by the JSE SENS Department.
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