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SA canners acquired

This article was originally published in Foodnews

LARGE South African fruit-canning company, Langeberg and Ashton, have been bought by Tiger Brands. The canners were already part-owned by Tiger Brands, but the company recently announced that they were to acquire the remaining 33.3% shares which were held by Ashton. The acquisition was effective from 31 October. Export-led Langeberg and Ashton had made a loss in the year to September despite good demand because of problems with the exchange rate and duty arrangements in Europe and South America, Business Day wrote. Tiger Brands group executive for corporate sustainability, Bongiwe Njobe, told the paper that the firm will now be examining how the full acquisition of the canners could make operations more efficient.

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