The Competition Tribunal (“Tribunal”) has approved the merger in which Rand Agri Holdings (Pty) Ltd (“Rand Agri”), on behalf of Ace Brands (Pty) Ltd (“Ace Brands Newco”), will acquire control of the inland milling business units of Tiger Consumer Brands Ltd (“Tiger Consumer Brands”). The Tribunal has approved the merger subject to conditions relating to employment and employment terms.
Rand Agri is a South African agricultural firm focused on trading agricultural commodities. It also owns and operates a yellow maize mill in Bethal, Mpumalanga, which processes maize and specialises in the production of grits.
The target business comprises Tiger Consumer Brands’ inland milling business units i.e. a maize milling plant, a wheat milling plant and the ‘Ace’ brand manufacturing plant located in Potchefstroom. The facilities manufacture and distribute white maize products under the ‘Ace’ brand including braai pap, cream of maize, maize rice, samp, quick cook samp, super samp, super maize meal, ready-to-eat-cereals (including instant porridge) and hominy chop / animal offal.