Tiger Brands has resolved a legal dispute with the erstwhile distributor of its Benny and Jolly Jus products in Nigeria, and in the process has improved its export performance says a news story by The African Reports.
The sales of products resumed in August 2020, according to the company’s latest update to the market.
The listed South African food producer has also made headway in the sale of its assets at Deli Foods in Nigeria.
The asset sale is part of a broader reworking of Tiger Brands’ business model, a cost-reduction exercise and an accelerated portfolio optimisation.
The company has disposed of its value-added meat products business. It is currently in the process of exiting its deciduous fruits business.
“The preparatory components of the sale process [for the deciduous fruit business] have been concluded and engagements with a list of potential buyers, as part of an initial expression of interest process, have commenced,” according to Tiger Brands.
“These developments, together with an improved export performance as a result of the resolution of the legal dispute in Nigeria, are likely to strengthen the company’s core portfolio going forward,” the company said.