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TBS - Tiger Brands Limited - Acquisition of the Status Brand and disposal of

Release Date: 21/04/2011 12:30
Code(s): TBS
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TBS - Tiger Brands Limited - Acquisition of the Status Brand and disposal of the Mousson Brand ("the transactions") Tiger Brands Limited (Registration number 1944/017881/06) (Incorporated in the Republic of South Africa) Share Code: TBS ISIN: ZAE000071080 ("Tiger Brands or "the Company) ACQUISITION OF THE STATUS BRAND AND DISPOSAL OF THE MOUSSON BRAND ("THE TRANSACTIONS") 1. INTRODUCTION Shareholders of Tiger Brands are advised that the Company has entered into an agreement in terms of which Tiger Brands will acquire the Status trademarks and related intellectual property, including finished goods stock (collectively the "Status assets") from Unilever PLC and Unilever South Africa (Pty) Ltd (hereafter collectively referred to as "Unilever"). Status is a South African male deodorant brand which was originally owned by the Sara Lee Corporation and was acquired by Unilever as part of the global transaction in which Unilever acquired Sara Lee`s Personal Care business. The South African competition authorities have approved the acquisition by Unilever of Sara Lee`s Personal Care business locally subject to Unilever disposing of the Status trademark. Further to this, Tiger Brands has entered into an agreement to dispose of its Mousson trademark to Unilever. Mousson participates within the South African foam bath and lotion personal care categories. 2. RATIONALE The acquisition of the Status assets provides Tiger Brands with a meaningful presence in the South African male deodorant market segment. Further to this, there is the potential to leverage the brand`s long standing equity into the wider male grooming sector. The acquisition also provides Tiger Brands with critical mass in the personal care category which will facilitate a further optimisation of the Company`s current product portfolio. The turnover attributable to the Status brand for the year ended 30 June 2010 was approximately R100m and the attributable turnover for Mousson for the year ended 30 September 2010 was approximately R24m. 3. CONDITIONS PRECEDENT The acquisition and disposal are subject to the fulfillment of certain conditions precedent including the unconditional approval by the South African Competition Authorities ("Competition Authorities") in terms of the Competition Act No.89 of 1998, as amended, or the conditional approval by the Competition Authorities on terms and conditions acceptable to both Tiger Brands and Unilever. The Transactions fall below the JSE transaction thresholds and therefore are for information purposes only. BRYANSTON 21 April 2011 Sponsor J P Morgan Equities Limited Date: 21/04/2011 12:30:01 Supplied by www.sharenet.co.za Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited (`JSE`). The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on, information disseminated through SENS.

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