Listeria has cost Tiger Brands millions in losses
Tiger Brands has taken a major financial knock since the listeriosis outbreak.
JSE-listed Tiger Brands says the costs associated with the recall of products linked to the listeriosis outbreak will amount to between R337 million and R377 million. This includes the national and regional costs of recalling all of the meat products produced at three of its sites, the company has said.
Recall costs aside, there are other associated costs with suspending production, the company has said, including two class-action lawsuits, for which the total amount claimed against Tiger Brands and Enterprise Foods is an estimated R425 million.
The consumer goods company hopes to recover around R94 million this through an insurance claim.
Pictured: Lawrence Mac Dougall, Tiger Brands CEO