Tiger Brands acquires canning firm
Fin24 - Dec 19th 2011, 12:12
Johannesburg - Diversified industrial group Tiger Brands [JSE:TBS] on Monday announced the acquisition of the remaining interests in Langeberg and Ashton Foods.
"An agreement had been reached with Ashton Canning Company to acquire the 33.3% shares in Langeberg and Ashton Foods that are held by Ashton," the company said.
As a consequence of the acquisition, which was effective from October 31, 2011, Tiger Brands, together with its wholly-owned subsidiary, Tiger Consumer Brands will hold 100% of the issued shares in Langeberg and Ashton Foods.
Langeberg and Ashton Foods is a fruit canning business situated in Ashton in the Western Cape and is one of the largest global fruit canners.
The majority of its production is exported to markets in the Far East, Europe and Middle East.
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