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Tiger Brands is phasing out its value-added meat business.
Food producer Tiger Brands has finalized the sale of its slaughterhouse business in Olifantsfontein, Gauteng, after announcing last month that it had struck a deal with pork producer Molare for 100 million rand.
The elimination of Tiger Brands’ slaughterhouse is part of its exit from the value-added meat products sold under its Enterprise business, whose products include poland, sausage, bacon and canned meat products. The food producer made the decision to go out of business following a 2017 listeriosis outbreak that dates back to its Limpopo operations and resulted in the deaths of more than 200 people who had consumed its meat products.
Its share price had fallen more than 50% since news of the outbreak and subsequent class action.
Last month, Tiger Brands also confirmed that it would sell the Enterprise business to chicken producer Country Bird Holdings (CBH), for R153 million, the sale will conclude once approved by the Competition Commission.
On Wednesday, Tiger Brands’ stock price rose just over 1% after the announcement.
