Tiger Brands / Langeberg & Ashton Foods sale to Ashton Fruit Producers Co-operative and Norfund
- Value
- R1
- Date
- 1 May 2025
- Status
- Announced
- Transaction type
- Private Equity
- Practice area
- Private Equity and Venture Capital
- Sector
- Consumer and Retail
- Jurisdiction
- South Africa
- Client
- Ashton Fruit Producers Co-operative; Langeberg Community Trust; Norfund
Summary
Tiger Brands / Langeberg & Ashton Foods sale to Ashton Fruit Producers Co-operative and Norfund. Value as disclosed: 1 (nominal cash consideration) ZAR.
DealMakers Business Rescue & Turnaround Transaction of the Year 2025; Award: DealMakers SA Business Rescue & Turnaround Transaction of the Year 2025 (announced May 2025). Total cash consideration R1 (nominal); Norfund invested up to R105m (US$6m) in the NewCo; Tiger Brands funded a R150m Community Trust (10% beneficial interest) and R31m of environmental upgrades; c.3,000 permanent and seasonal jobs and 250 fruit growers supported.
Why it matters
Major (USD 100m-1bn or award-winning)
Scope of legal work
Baker McKenzie South Africa; ENSafrica (ENSafrica)
Advisers
Other parties
Ashton Fruit Producers Co-operative; Langeberg Community Trust; Norfund (acquirer or client); Tiger Brands (counterparty or seller)
Other advisers
Absa CIB; Nedbank CIB; J.P. Morgan; Boy Louw; PwC
Sources
Compiled by Meridian from the public announcements and filings listed under Sources.
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