The disposal of the business, which was closed temporarily in 2018 after the world’s biggest listeriosis outbreak, is part of a strategic review initiated before that outbreak and concluded that the business was “not an ideal fit” within the group’s portfolio.
Molare, one of South Africa’s largest piggery businesses and one of the main suppliers to the abattoir operation, will pay 117 million rand for its acquisition while Silver Blade will pay 311 million rand for the factories. The company is facing a class action lawsuit over its role in the listeriosis outbreak, which killed more than 200 people in South Africa and was traced back to a factory run by Tiger Brands-owned Enterprise Foods.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MTN’s sale of Middle East business expected to boost 5G rollout in AfricaMobile operator to sell its operations in Syria, Afghanistan, Iran and Yemen
Source: BDliveSA - 🏆 12. / 63 Read more »
From panic to pivot: join the free webinar on how to reinvent your businessOn Aug 19 at 9am, join the Business Day SME Matters digital series in partnership with the Johannesburg Business School, as we look at some of SA’s most innovative entrepreneurs who have turned crisis into opportunity. ArenaEventsZA
Source: BDliveSA - 🏆 12. / 63 Read more »