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Tiger Brands to launch venture capital fund

20 May 2021

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/