TIGER BRANDS LIMITED - Sale of Mrs H S Ball's Chutney Business by Unilever South Africa to Tiger Brands

Sale of Mrs H S Ball's Chutney Business by Unilever South Africa to Tiger Brands

TIGER BRANDS LIMITED
“Tiger Brands”
(Incorporated in the Republic of South Africa)
(Registration number 1944/017881/06)
Share code: TBS
ISIN: ZAE000071080



                              VOLUNTARY ANNOUNCEMENT


The following is a joint statement released today by Unilever South Africa and Tiger Brands


 SALE OF MRS H S BALL’S CHUTNEY BUSINESS BY UNILEVER SOUTH AFRICA TO
                            TIGER BRANDS


Unilever South Africa and Tiger Brands today announced that they have concluded an
agreement in terms of which Unilever will dispose of the Mrs Ball’s Chutney brand to Tiger
Brands.

The transaction is subject to Competition Commission approval and is limited to intellectual
property plus inventories on hand.

Dickon Hall, the current manufacturing partner for the Mrs Ball’s retail products and a wholly-
owned subsidiary of Libstar (Pty) Ltd, will continue to serve as Tiger’s manufacturing partner
for the business.

The turnover for the brand for 2011 was R189 million. The purchase price, in the event of
approval by the Competition Commission, is R475m excluding inventories.

Unilever South Africa Chairman, Marijn van Tiggelen stated that Unilever reviews its portfolio
of brands on an ongoing basis and the decision to sell has been the result of a strategic
review of the brand and the subsequent finding that Unilever cannot give the focus to Mrs
Ball’s that this iconic South African brand deserves.

Tiger Chief Executive Officer, Peter Matlare added: “Subject to the approval of the regulatory
authorities, the acquisition of the Mrs Ball’s brand will give Tiger ownership of one of South
Africa’s most treasured food brands and will complement our current shopper offering within
the culinary business. We are truly excited about the deal and look forward to having this
iconic brand in our stable of products.”



Bryanston


Date:          7 December 2012


Sponsor
J.P. Morgan Equities South Africa Proprietary Limited

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