Tiger Brands Limited - Tiger Brands To Acquire Nes
TBS
TIIH
Tiger Brands Limited - Tiger Brands To Acquire NestlE Sugar Confectionery
Portfolio
TIGER BRANDS LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN code: ZAE000071080
TIGER BRANDS TO ACQUIRE NESTLE SUGAR CONFECTIONERY PORTFOLIO
NestlE (South Africa) and Tiger Brands today announced that an agreement in
principle has been reached for the acquisition by Tiger Brands of the sugar
confectionery portfolio of NestlE in South Africa.
The sugar confectionery portfolio of NestlE includes such well-known brands as
"Jelly Tots" and "Wilsons". Yves Manghardt, Chief Executive of NestlE (South
Africa) said that NestlE (South Africa) had decided to dispose of its sugar
confectionery portfolio in order to focus on its chocolate business and to drive
profitable, sustainable growth of its strong chocolate brands. Revenue of the
sugar confectionery brands is in excess of R100 million per annum.
Nick Dennis, CEO of Tiger Brands, said that the acquisition would be an
important addition to the company"s branded confectionery business.
The purchase of the sugar confectionery portfolio involves the acquisition of
plant and equipment and trade marks.
The transaction is subject to the appropriate approval of the Competition
Authorities, a decision in respect of which is expected during the second half
of 2006.
Bryanston
Date: 5 April 2006
Sponsor
J.P. Morgan Equities Limited
Date: 05/04/2006 10:50:31 AM Produced by the JSE SENS Department
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