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Tiger Brands buys Mrs Ball’s chutney brand for R475m
Tiger Brands buys Mrs Ball’s chutney brand for R475m

Tiger Brands buys Mrs Ball’s chutney brand for R475m

FMCG SUPPLIER NEWS

IOL Business/ Bloomberg - Dec 10th 2012, 09:21

Unilever South Africa will sell its Mrs HS Ball’s chutney brand, with a recipe dating from World War I, to Tiger Brands for R475 million. 

The brand generated sales of R189m for Unilever SA, based in Durban, in the 2011 financial year, the companies said in a joint statement on Friday. Unilever is closely held, with Remgro owning a 25.8 percent stake.

“Mrs Ball’s brand will give Tiger ownership of one of South Africa’s most treasured food brands,” chief executive Peter Matlare said in a statement. The chutney was created by Amelia Ball during World War I for her family and friends, according to Unilever’s website.

The agreement is subject to approval from regulators.

Tiger Brands agreed to buy Dangote Flour Mills of Nigeria from Dangote Industries for 30.1 billion naira (R1.6bn) in July as part of a strategy of expanding outside of South Africa. – Bloomberg  

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