News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise with us

Tiger Brands to exit controlling stake in Kenyan business

Tiger Brands announced on Tuesday that it intended to spin its controlling stake in its Kenya-based Haco Tiger Brands to a local partner, signalling a shift in strategy to its offshore operations.
Tiger Brands to exit controlling stake in Kenyan business

The food producer is in the process of selling its 51% shareholding in East African Tiger Brands Industries. In 2016, Tiger ditched its stake in the former Dangote Flour Mills in Nigeria.

"A detailed review of the Haco business was conducted in the context of Tiger Brands' long-term growth strategy and core competencies," the company said in a statement.

Tiger said the majority of Haco's business did not align with its current operating model of owning leading fast-moving consumer goods brands.

Revenue in the four months to January was up an annualised 12%, supported largely by its home market. Trading conditions in the offshore operations were weaker, affected by a stronger rand, it said.

Source: BDpro

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za
Let's do Biz