Tiger Brands corroborates plan to sell loss-making fruit canning plant

Fast-moving consumer goods (FMCG) company Tiger Brands has reopened the process to sell the troubled Langeberg and Ashton Foods (L&AF) deciduous fruit factory in the Western Cape. Spokespeople have confirmed that at least one buyer is currently assessing the plant.

The JSE-listed food manufacturer reaffirmed its intention to sell the plant when it released its interim financials for the period ended 31 March 2023 on Tuesday. The deciduous fruit factory’s future has been hanging in the balance since 2020 when the group first made public its plans to part ways with the business that fell short of offering a viable growth path for the firm.

Tiger Brands says it is committed to running the factory for yet another season, but hopes to have successfully transferred the plant to more enthusiastic hands by the end of May 2024 when the season is scheduled to conclude.

Source: moneyweb.co.za

Publication date:

Receive the daily newsletter in your email for free | Click here

Other news in this sector:

Sign up for our daily Newsletter and stay up to date with all the latest news!

Subscribe I am already a subscriber

You are using software which is blocking our advertisements (adblocker).

As we provide the news for free, we are relying on revenues from our banners. So please disable your adblocker and reload the page to continue using this site.

Click here for a guide on disabling your adblocker.