Tiger Brands was looking for acquisitions outside SA and would place more emphasis on due diligence than in the past, management said on Monday. CEO Lawrence MacDougall said the consumer goods group had a "clearer" acquisition strategy that focused on core product categories. Tiger had also "upweighted" due diligence considerations and would closely assess all aspects of target firms, including routes to market. In 2012, former CEO Peter Matlare led the acquisition of a 65.7% stake in Nigeria’s Dangote Industries for R1.6bn, though successive losses prompted Tiger to sell the business back to tycoon Aliko Dangote for $1 in late 2015. Tiger’s chief financial officer, Noel Doyle, said the group was pursuing bolt-on deals – "which we’ve generally executed quite well" – and larger opportunities at the right price. "It’s just so tough to find value – seller expectations are still very high," Doyle said. Tiger’s strong balance sheet meant it had "significant capacity" for takeovers, he sa...

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