South Africa's RFG to buy Pioneer's frozen foods business

JOHANNESBURG (Reuters) – A subsidiary of South Africa’s food producer RFG Holdings Ltd, will buy the frozen foods business of Pioneer Foods Wellingtons, save for any operations in Botswana and Eswatini, it said on Tuesday

The leading manufacturer of canned fruit, jams and canned meat, said the product range of the business that will be bought by Rhodes Food for an undisclosed amount includes frozen pies, pastry, sausage rolls, pizza and party packs under the well-established brands Today, Mama’s, Big Jack and Man’s Meal.

The frozen foods business has a strong presence in the frozen pies and pastry segment, and services the South African top end retail market.

“The board believes that the frozen pie and snack category in the top end retail market complements RFG’s growing pies and pastries business and that the acquisition has the potential to generate good synergies for the company,” RFG said.

The expected effective date of the acquisition, depending on the timing of the fulfilment of the conditions precedent, will be 1 January 2022, the owner of Bull Brand canned meat and Ma Baker pies added.

Source: Read Full Article