Tiger Brands has announced the sale of its iconic Beacon brand, known for its beloved chocolates and sweets, while retaining popular products like TV Bar and Jelly Tots.
Tiger Brands has decided to keep its staple foods business, King Foods, after receiving unsatisfactory offers for the company and after the maker of the King Korn and Ace brands became profitable again.
Not so lucky, however, is Tiger Brands’ 95-year-old Beacon chocolate brand, as the group announced in its results on Monday, for the six months to March 31, that it has reached an agreement to sell its Beacon brand and associated equipment.
However, some of the other branded chocolates and sweets that had been produced by Beacon are being retained by Tiger Brands, including TV Bar, Nosh, Wonder Bar, Black Cat, Jelly Tots, Liquorice Allsorts, and the Jungle Energy Bar.
These brands are profitable and are a “strategic enabler of our ‘snackification’ growth platform,” Tiger’s CEO Tjaard Kruger said in the results report.
