Tiger Brands buys Barry Callebaut's Chococam stake
JOHANNESBURG, July 24 (Reuters) - South African food and healthcare company Tiger Brands (TBSJ.J: Quote, Profile, Research, Stock Buzz) said on Thursday it had acquired a 74.4 percent stake in Cameroon chocolate manufacturer Chococam.
"This acquisition gives impetus to our strategy to expand our African footprint," Tiger Brands Chief Executive Peter Matlare said in a statement.
The transaction is expected to close on July 31.
Tiger Brands, which bought the stake from chocolate manufacturer Barry Callebaut (BARN.S: Quote, Profile, Research, Stock Buzz), said it will take over the entire business.
The rest of the shares are held by a number of small private investors.
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