South Africa: Tiger Brands to sell Baby Wellbeing business

South African consumer goods firm Tiger Brands has announced the sale of its Baby Wellbeing business in a deal valued at 605 million ZAR ($33.4 million), according to a Reuters report.

The Baby Wellbeing business comprises baby toiletries under the Elizabeth Anne’s brand name and medicinal products including antacid Muthi Wenyoni, Telament colic drops, and skin cream Antipeol.

The buyer, which is said to be one of the South African’s leading manufactures of home and personal care products, will also acquire inventory and the rights to manufacture and sell multivitamins under the Vi-Daylin brand under licence.

The deal excludes the baby food business marketed under the Purity baby food brand

“This transaction marks another milestone in the simplification of our portfolio and will enable us to intensify our focus on the Baby Nutrition business, a core area where we believe we have a clear competitive advantage” said Tiger Brands CEO Tjaart Kruger.

Source: Reuters