Tiger Brands looking to sell its processed meats business

Tiger Brands says it's looking to sell its processed meats business.

JOHANNESBURG - It seems that there's no coming back from the listeria crisis that rocked Tiger Brands last year.

The company now says it's looking to sell its processed meats business.

Tiger Brands owns the likes of Enterprise Foods and Mielie Kip.

READ: Tiger Brands faces litigation over listeriosis

The division was temporarily closed last year following the world’s largest-ever listeria outbreak.

Nearly 200 people deaths were linked to the outbreak.

The company is now facing a class-action lawsuit over the way it managed it.

READ: Tiger Brands still feeling the pinch after deadly listeriosis outbreak

The particular strain of listeria bacteria was traced back to an Enterprise Foods factory. But Tiger Brands says the review of its processed meats business started long before that.

Authorities say they feel it's not an ideal fit for its business portfolio.

The unit’s revenues slid 79 percent in the six months ending in March, resulting in an operating loss of over R200-million.

Source
eNCA