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In the news
Tiger Brands to launch venture capital fund
South Africa's biggest food producer Tiger Brands will launch a venture capital fund to invest in food and beverage startups, with an initial allocation of less than R100m, CEO Noel Doyle said on Thursday.
A couple leaves Tiger Brands factory shop in Germiston, Johannesburg, South Africa, 5 March 2018. Reuters/Siphiwe Sibeko
Geographically, the fund, which will be launched in June, will predominately focus on South Africa, "but not exclusively so," Doyle told analysts after presenting the company's half-year results.
The company's total revenue from continuing operations increased by 8% to R16.4bn for the six months ended 31 March 2021, underpinned by price inflation of 9% and offset slightly by an overall volume decline of 1%.
In the face of a very challenging operational & trading environment, we're pleased to report strong operational execution and resilience, delivering a solid performance in the 1st half of 2021. pic.twitter.com/Ai03FsC07R
— Tiger Brands (@TigerBrands) May 20, 2021
Tiger Brands owns popular household brands including Koo, Jungle, Beacon and Fatti's & Moni's.
Source: Reuters
Reuters, the news and media division of Thomson Reuters, is the world's largest multimedia news provider, reaching billions of people worldwide every day.
Go to: https://www.reuters.com/About Nqobile Dludla
Reporting by Nqobile Dludla; editing by Mfuneko Toyana. Additional reporting by Lauren Hartzenberg.Related
