Tiger Brands to acquire Bromor Foods :: Namibia Internet Gateway cc ::

Articles: Tiger Brands to acquire Bromor Foods

Posted by admin on Tuesday, April 04, 2006 - 10:56 PM

TIGER Brands will acquire Bromor Foods from Cadbury Schweppes for R1,16bn, Tiger Brands said today.
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Bromor is a non-carbonated soft drinks company and has a turnover of around R850m per annum, with manufacturing and production facilities in Gauteng, Durban and Cape Town. Its brands include Oros, Energade, Hall’s, Monis and Roses. Tiger Brands CEO Nick Dennis said the proposed acquisition would result in Tiger Brands acquiring a portfolio of leading brands in a sector of the retail shelf where Tiger Brands currently has 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," Dennis added. From an operational perspective, it is intended that Tiger Brands’ snacks and treats business will assume responsibility for the Bromor business once the agreement becomes unconditional. Tiger Brands’ snacks and treats business currently consists of chocolate and sweet brands Anytime, Black Cat, FFWD, Inside Story, Wonderbar, Smoothies, Maynards and Beacon. The acquisition of Bromor is subject to the approval of the Competition Tribunal and a hearing is likely to take place during the second half of 2006, Tiger Brands said.

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