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BL Premium reports that the Competition Commission has approved the sale of Tiger Brands’ Langeberg and Ashton Foods canning business to a consortium of local fruit producers.
The transaction, finalised after five years, clears the way for Tiger to fully exit the deciduous canned fruit market, while promoting local ownership and sustained competition. It transfers ownership of the Ashton canning factory and related operations for a nominal fee of R1. Tiger Brands has also committed R150m to establish a Community Trust as part of the deal. To address public interest concerns, the merged entity has agreed not to retrench any employees for three years and will invest capital into the business.
The buyer is a consortium made up of the Ashton Fruit Producers Co-operative, formed in 2020 by producers from Robertson, Ceres, Breede River and the Little Karoo, and a development finance institution focused on job creation, improving livelihoods and supporting the shift to net zero. Langeberg and Ashton Foods employs more than 3,000 permanent and seasonal employees and is an “important contributor to the region’s economy”, Tiger Brands pointed out.
- Read the full original of the report in the above regard by Nompilo Goba at BussinessLive (subscriber access only)
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