The South African FMCG group books a $5.7m impairment but expects to offset it with profits from the sale by year-end.
Tiger Brands has agreed to sell its Beacon chocolate brand and related equipment, marking its second chocolate sector disposal in recent months. The deal follows an earlier announcement to offload Cameroonian subsidiary Chococam, pending regulatory approval. Details of the buyer and sale price remain undisclosed, though the company has already recorded a R92m ($5.7m) impairment tied to the transaction.
The group reported a 1.3% year-on-year revenue increase to R17.9bn for the six months ending March, with volumes rising 2.6%. Operating income before impairments surged 26.1% to R2.1bn, while like-for-like volumes climbed 4.5%. Tiger emphasized its remaining chocolate brands—TV Bar, Nosh, Wonder Bar, Black Cat, and Jelly Tots—as profitable and central to its snackification strategy.
Tiger expects the Beacon sale’s profit to negate the $5.7m impairment charge by the end of its financial year. The company has not disclosed further financial terms or the timeline for completing the transaction.