RHODES FOOD GROUP LOOKS FOR NEW SYNERGIES AFTER BUYING PIONEER FOODS’ FROZEN ARM
Rhodes Food Group (RFG) of South Africa is hoping for synergies after buying the frozen foods business of another South African company, Pioneer Foods.
Through the purchase Rhodes Food Group (RFG) has acquired a range of brands, including Man’s Meal, Big Jack and Mama’s, and products such as frozen pies, pizza and sausage rolls.
In comments released to media, RFG said that Pioneer Foods’ high end frozen pies and snacks “complements RFG’s growing pies and pastries business”. The purchase, RFG continued, “has the potential to generate good synergies for the company”.
Products covered by the agreement are manufactured at a Pioneer Foods facility in Atlantis in South Africa’s Western Cape.
As well as owning the Bull brand, and its eponymous Rhodes label, RFG has “premium private-label product ranges” that it makes for domestic and international retailers.
Founded in 1997, Pioneer Foods has been owned by PepsiCo since 2019 and describes itself as “one of the largest South African producers and distributors of a range of branded food and beverage products”.
The company says it exports to more than 80 countries, although the international business accounts for less than a quarter of operating profits.
The deal, which is for an undisclosed amount and is due to be completed at the beginning of next year, does not include any of Pioneer Foods’ operations in Botswana and Swaziland. It is also subject to South Africa’s Competition Commission not raising objections.
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