Tiger Brands

Tiger Brands Limited(JSE:TBS) is a South African packaged goods company.In addition to the company's South African operations, Tiger Brands has direct and indirect interests in international food businesses inChile,Zimbabwe,Mozambique,Nigeria,Kenya,LesothoandCameroon.Tiger Brands is South Africa's largest food company.
Jacob Frankel with help from Joffe Marks founded Tiger Oats Limited in 1921. Tiger Brands Limited was formerly known as Tiger Oats Limited and began as a family business.
Originally known as Tiger Oats, Tiger Brand's first product was a breakfastoatmealbrand called Jungle Oats. Jungle Oats are still produced by the brand. It was first conceived by Frankel towards the end of the 19th century and was finally launched in 1925. Tiger Oat's first mill was opened inMoorreesburg, Western Cape. A second mill was opened inMaitland, Cape Townwhen demand outgrew the Moorreesburg mill's capacity in 1930. The Moorreesburg mill was abandoned in about 1987.In March 1982Barlowbought a considerable share of Tiger Oats.
In 1988SPARSouth Africa became a wholly owned subsidiary of Tiger Oats, however it was unbundled and listed as a separate company in 2004.During the late 1990s Tiger Oats went through a period of rapid expansion. It bought out other large companies and competitors such asImperial Cold Storage and Supply Company, afood packagingcompany (in October 1998)and pharmaceutical companyAdcock IngramforR3.4bn in 1999.After the buyouts Tiger Oats was renamed Tiger Brands. In July 2008 Adcock Ingram was unbundled from Tiger Brands.
Tiger Brands Limited's subcompany, Tiger Food Brands Ltd merged with Bromor Foods (Pty) Ltd, which owns the Super Juice carbonated drink.On 1 October 2009, the company acquiredCrosse & Blackwell'smayonnaisebusiness for an undisclosed amount.
In 2008 Tiger Brands launched an aggressive expansion program into the rest of Africa.  In the process the company bought a controlling stake in a number of food processing businesses in Nigeria, Kenya,Ethiopia, and Cameroon.
This included a R1.5 billion purchase of 65.7% inDangoteFlour Mills in October 2012, Nigeria's second largest milling operation. This and other investments in Africa proved to be costly and unproductive.  Over capacity in the Nigerian market led to an operating loss of R2.7 billion by the time Tiger sold back the operation to Dangote for a token one US dollar three years later in 2015.  Management issues in Tiger's Kenya operations and the collapse of its Mozambican distributor and Deli Foods subsidiary also negatively impacted the company in this period.  This led to then CEO Peter Matlare to resign in November 2015 and a reorganisation of its non-South African operations.
Noel Doyle was appointed chief executive officer with effect from 1 February 2020. Pamela Padayachee was appointed acting Chief Financial Officer with effect from 1 February 2020.
Tiger Brands was implicated in theworld's largestlisteriosisoutbreak in March 2017 whenpolonyproduced at a factory inPolokwane‚Limpopoby its subsidiary company, Enterprise Foods, was found to be the source of the outbreak by the South AfricanNational Institute for Communicable Diseasesand announced by theMinister of Health.The outbreak caused the deaths of 164 people and infected a further 872 people by 24 February 2018.By 5 March 2018 a total of 180 people were thought to have died from the outbreak.Tiger Brands stated that they had been presented with no evidence of their facility being the cause of the outbreak.Following the announcement by the Minister of Health the company's stock price dropped by 7% resulting in R5.7bn (US$438.69 million) reduction in market capitalisation.
In mid-November 2007 Tiger Brands was finedR98.8 million (roughly equivalent to US$12.8 million at the immediate spot exchange rate at the time)by theSouth African Competition Commissionfor colluding with other bread producers to raise the price of bread by between 30c and 35c per loaf.
According to the commission the four companies involved (Premier Foods, Tiger Brands,FoodcorpandPioneer Foods) controlled more than 90 percent of the wheat flour market at the time. Facilitating their pricing activities through secret meetings and telephone calls between employees of these firms at various venues, including churches, stadiums and hotels. The commission also found that the price-fixing activities had a negative effect on both consumers as a whole as well as inhibiting smaller bakeries from being effective competitors.
The fine reflected 5.7% of Tiger Brand's bread sales, coming mostly from its Albany brand, for the 2006financial year.Tiger Brands took full responsibility and then CEO Nick Dennis resigned.
In May 2008 Tiger Brands agreed to pay a R53.5 million fine for alleged anti-competitive practices in its health care subsidiary Adcock Ingram Critical Care (AICC). AICC executive Arthur Barnett was suspended until the investigation was concluded.In July 2008 Tiger Brands stated that it was going to unbundle its entire Adcock Ingram subsidiary with each Tiger Brands shareholder receiving one share in Adcock Ingram for every Tiger Brands share they owned.
Over the years Tiger brands has acquired various subsidiary organisations:
Brand (countryif not in South Africa, year of acquisition and/or launch)