To re-establish the brand… is going to be exceptionally hard… it possibly should be done away with.— Evan Walker, 36ONE Asset Management
Under the Consumer Protection Act there’s no need for claimants to prove fault… They don’t have to prove negligence… The typical way these cases proceed is by class action… But that can present difficulties… I’m sure companies… will put in place measures with consumers who have been affected…— Rosalind Lake, Norton Rose Fulbright
The Tiger Brands share price was, at point, down by 13%.
It was trading 7.14% lower at 3:42pm on Monday.
This comes after some of the company’s processed meat products were identified as a source of listeriosis that has killed 180 people.
It is the world’s worst ever listeriosis outbreak linked to food poisoning.
Tiger Brands is Africa’s largest packaged food producer.
It has been ordered to recall all Enterprise branded products that are ready to eat.
The Money Show’s Bruce Whitfield interviewed Evan Walker, Portfolio Manager at 36ONE Asset Management.
Walker discussed the tumbling Tiger Brands share price and how this will affect food producers and the retail industry.
Whitfield also spoke to Rosalind Lake, Director at Norton Rose Fulbright, about the legal consequences of this listeriosis disaster.
Listen to the interviews in the audio below (and/or scroll down for more quotes from it).
This has been a fantastic business… this was a big scare today, the impact could be sizable…— Evan Walker, 36ONE Asset Management
Even competitor brands are going to suffer…— Evan Walker, 36ONE Asset Management
A lot goes into pies… and things consumers don’t recognise…— Evan Walker, 36ONE Asset Management
Tiger Brands is world-class...— Evan Walker, 36ONE Asset Management
…notoriously difficult to prove… it’s entirely appropriate that the company does its own investigation…— Rosalind Lake, Norton Rose Fulbright
If you’re not certain that you’ve caused a problem… to do that reactively is, perhaps, not appropriate.— Rosalind Lake, Norton Rose Fulbright
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