Listed food giant Tiger Brands has made a fresh offer to buy smaller rival AVI, both companies said in separate statements on Monday.

"Tiger Brands confirms that further formal communication has been made by Tiger Brands with the board of AVI regarding a potential offer," Tigerbrands said.

AVI said its board and advisers were considering the terms of the proposal.

Tiger Brands products include Albany bread and Jungle Oats while AVI's include Bakers and Frisco.

Tiger Brands said earlier this year that it was still considering making an offer for AVI. Its initial offer, made in November 2008, was turned down by AVI.

Sapa