Tiger Brands disposes value-added meat products business for US$24.7m to Country Bird Holdings, Molare

SOUTH AFRICA – South African food manufacturing giant, Tiger Brands has entered into two separate agreements to sell its value-added meat product (VAMP) business units as going concerns for a combined R428 million (US$24.7 million). The agreements are with two separate and unrelated purchasers i.e. Molare Proprietary Limited, one of South Africa’s largest pork processors and Silver Blade, a subsidiary of Country Bird Holdings. The first agreement with Molare regards its abattoir business at Olifantsfontein, which Molare will acquire for R100 million (US$5.7m) and a further R17m (US$0.97m) for inventories at…

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Agribusiness investor Zeder disposes 32.1% stake in Quantum Foods for US$18m

SOUTH AFRICA – Agribusiness and food industry focused investment group, Zeder Investments has offloaded all its 61.6 million shares, representing 32.1% stake held in Quantum Foods Holdings Limited, a JSE-listed feed and poultry products firm to Country Bird Holdings Proprietary Limited (CBH). CBH is an integrated poultry and stock feed business with operations in South Africa, Botswana, and Zambia. According to Zeder’s statement announcing the disposal, the company has sold the shares at R5 per share fetching a total of R308m (US$18m). The value of the net assets comprising the sale…

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