JOHANNESBURG Jan 21 South African food company
Tiger Brands has agreed to buy a Kenyan milling and
confectionery firm for $25 million, the Business Day newspaper
reported on Tuesday, citing a company executive.
The Johannesburg-based maker of bread and breakfast cereal
will acquire flour milling company Rafiki Mills, corporate
affairs group executive Alex Mathole told the newspaper.
"Although an agreement has been signed the conditions
precedent (have) yet to be fulfilled," Mathole was quoted as
A spokesman for Tiger Brands was not immediately able to
The acquisition of Rafiki, the fourth-largest miller in East
Africa's largest economy, would be the latest move by Tiger
Brands to increase its presence in fast-growing sub-Saharan
In 2012 it acquired 63 percent of Nigeria's Dangote Flour
Mills for $188 million. It already has a presence
in Kenya through its Haco Tiger Brands unit.
(Reporting by David Dolan; Editing by Mark Potter)