Tiger Brands Limited - News Release
NEWS RELEASE
Tiger Brands Limited, through its wholly owned subsidiary Adcock Ingram, has
concluded an agreement to acquire all the shares of Robertsons Homecare
(Pty) Limited and Robertsons (Pty) Limited for R325 million. Robertsons
(Pty) Limited owns the majority of the trade-marks used by the Robertsons
Homecare business.
The acquisition is in line with Tiger Brands` strategic focus on branded
consumer products and provides Tiger with entry into attractive new product
sectors. The Robertsons Homecare business has well established leading brands
in the insecticides and airfreshener markets.
Brands include Doom, Fastkill, Airoma, Dy-range, Rattex and Peaceful Sleep.
The Flush Clean and the ICU ranges of household cleaners are also included in
the acquisition.
Tiger Brands` Chief Executive, Nick Dennis, said that the acquisition will
position Tiger Brands as a significant player in these areas of the South
African household products market and will also provide further growth potential
through exports. "This is an important acquisition for Tiger Brands as it
provides us with leading brands in sectors in which Tiger currently has little
or no presence and will enhance our existing basket of branded consumer
products", he said.
Retrenchments as a result of the acquisition are not anticipated in the
foreseeable future.
The acquisition is subject to the appropriate approvals in terms of the
Competition Act.
Ends
For further information:
M C NORRIS, Exec. Director, Tiger Brands & CEO of Adcock Ingram
Telephone: (011) 709-9488
17th September 2002
Date: 17/09/2002 04:42:00 PM Produced by the JSE SENS Department
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