TBS
TIIH
Tiger Brands Limited - Press Release
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000071080
PROPOSED ACQUISITION OF BROMOR FOODS (PTY) LIMITED
Tiger Brands today announced that it has concluded an agreement in terms of
which it will acquire the entire issued share capital of Bromor Foods (Pty)
Limited ("Bromor") from Cadbury Schweppes.
Bromor is a company that has built a leading position in the non-carbonated soft
drinks market and has a turnover of approximately R850 million per annum.
Bromor has manufacturing and production facilities in Gauteng, Durban and Cape
Town and its leading brands include "Oros", "Energade", "Hall"s", "Monis" and
"Roses". The purchase consideration for the shares is R1.16 billion.
Nick Dennis, Chief Executive Officer of Tiger Brands, said that the proposed
acquisition of Bromor would result in Tiger Brands acquiring a portfolio of
leading brands in a sector of the retail shelf where Tiger Brands currently had
little presence. "The acquisition of such wonderful brands as Energade and Oros
adds to the basket of leading consumer brands owned by Tiger and is an important
complementary strategic fit for Tiger".
From an operational perspective, it is intended that Tiger"s Confectionery and
Beverages business will assume responsibility for the Bromor business upon the
agreement becoming unconditional.
The acquisition of Bromor is subject to the approval of the Competition
Tribunal, the hearing in respect of which is likely to take place during the
second half of the calendar year.
Bryanston
Date:
4 April 2006
Sponsor
J.P. Morgan Equities Limited
Date: 04/04/2006 09:07:17 AM Produced by the JSE SENS Department
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