04/06/2026
Tiger Brands just sold a 95-year-old South African brand that every child in this country knew by name.
Beacon. The Easter eggs. The chocolate slabs. Gone.
Not because the business was failing. Because Tiger couldn't win the fight it was in.
Tjaart Kruger, CEO of Tiger Brands, was direct about it. The chocolate manufacturing equipment hadn't been upgraded in over 30 years. Cadbury and Nestlé had scale and infrastructure Tiger couldn't match. Every rand invested in closing that gap was a rand not going to Albany, All Gold, or Jungle, where Tiger holds genuine leadership.
So he made the call. Sell the Beacon brand name. Sell the Easter egg lines, the chocolate slabs, and the manufacturing equipment. Keep TV Bar, Nosh, Wonder Bar, and Black Cat chocolate. Those stay because they fit the snackification platform Tiger is building. Jungle Bar is now in the top three countlines in the country.Tiger booked a R92 million impairment on the Beacon sale. They did it anyway.
Nestlé made the same call in the US in 2018. They sold over 20 confectionery brands to Ferrero for $2.8 billion. That portfolio was generating $900 million in US revenue at the time. Nestlé sold it because their right to win sat in coffee, pet care, and infant nutrition. Not chocolate. They kept KitKat globally. They exited where they couldn't lead.
Two companies.
Two different decades.
The same underlying logic.
Volume without competitive advantage is not a business. It is a cost centre with good branding.
The brands Tiger kept are the ones that compound. The ones it sold were the ones that consumed.
That distinction is the entire job.
Sources: Tiger Brands Interim Results H1 2026 | Nestlé press release January 2018. Views are my own.