Tiger Brands to say goodbye to famous Beacon sweet
Tiger Brands is reportedly set to sell one of its 94-year-old Beacon brands.
Jelly Tots, Maynards Wine Gums, Fizzer, Marshmallows, Liquorice All Sorts, and Beacon chocolates are all part of one of South Africa’s biggest food producers, Tiger Brands.
But now the food producer is planning to say goodbye to one of these famous sweets.
According to News24, Tiger Brands is set to sell its Beacon chocolate brand, which includes snacks like TV Bar, Nosh, Beacon chocolate-and-marshmallow Easter eggs, and its chocolate slabs.
The group said that the 94-year-old chocolate brand has not been working in their favour for years.
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However, no final decision has been made about letting go of the Beacon brand.
Tiger emphasised that it would continue producing these products until it finds an appropriate exit plan for the brand.
"We will continue delivering on the strategic turnaround of the business until such time as an appropriate exit mechanism has been identified," said CFO Thushen Govender.
CEO Tjaart Kruger told News24 in an interview that the group had "probably fallen behind in technology."
He added that Tiger hadn't upgraded its chocolate-making technology in three decades.
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"It's just too expensive to do it now, but I think in the hands of the right person, [the Beacon chocolate brand] can be a good business."
"We price against Cadbury like R4 or R5 a slab cheaper and still don’t get the volumes," he added.
Kruger added that the successful Jungle Oats Bar and other sweets such as Jelly Tots, Maynards Wine Gums, Fizzer, Marshmallows, and Liquorice All Sorts will remain within Tiger Brands.
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