Tiger Brands disposes of abattoir in R100 million sale
The company completed the sale as part of its exit from value-added meat products.
On September 30, Tiger Brands finalised the sale of its abattoir business. Pork producer Molare, one of South Africa’s largest piggery businesses, entered into an agreement to buy the abattoir business based in Olifantsfontein, Gauteng, for R100 million.
The deal comes as the company, which is one of the largest food manufacturers in Africa, faces an ongoing class action lawsuit over its part in the listeriosis outbreak that killed more than 200 people in South Africa. The outbreak was traced back to a ready-to-eat processed meat plant run by Enterprise Foods, which is owned by Tiger Brands.
Tiger Brands’ share price fell by more than 50 percent following the outbreak and subsequent public fall-out.