Tiger Brands Drops Plans To Acquire Firms

News: South Africa-based packaged goods maker Tiger Brands has dropped the plans to acquire Kenya-based Rafiki Millers and Magic Oven Bakeries. It is a mutual agreement between the companies to terminate the deal, the company said. Tiger Brands gained full ownership of Rafiki Millers and Magic Oven Bakeries in February 2014, citing that it will boost the company's presence in the Kenyan flour milling and bread baking industry.

News: South Africa-based packaged goods maker Tiger Brands has dropped the plans to acquire Kenya-based Rafiki Millers and Magic Oven Bakeries. It is a mutual agreement between the companies to terminate the deal, the company said. Tiger Brands gained full ownership of Rafiki Millers and Magic Oven Bakeries in February 2014, citing that it will boost the company's presence in the Kenyan flour milling and bread baking industry.

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Related sectors of this article: Food & Drink
Geography: Kenya, South Africa
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