CAMEROON: Tiger Brands pounces for Callebaut unit
South Africa's Tiger Brands has acquired Barry Callebaut's stake in Cameroon-based consumer chocolate business Chococam.
Upon completion of the transaction Tiger Brands will hold 74.7% of Chococam shares. The remaining 25.3% of Chococam will be held by a number of small private investors.
The move will allow Barry Callebaut to focus on cocoa sourcing and cocoa processing in Africa, the company said in a statement released today (24 July).
Tiger Brands said the acquisition is in line with its African expansion strategy.
Financial details of the transaction were not disclosed.
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