South Africa’s RFG Holdings has acquired frozen-food assets from local peer Pioneer Foods for an undisclosed sum.
The products sold include frozen pies, pastry, sausage rolls, pizza and party packs sold under brands such as Today, Mama’s, Big Jack and Man’s Meal.
RFG, which has a product portfolio ranging from canned fruit and vegetables to baked and frozen goods, said the business it has bought commands “a strong presence in the frozen pies and pastry segment and services the South African top-end retail market”.
The products are manufactured at a facility in Atlantis in the Western Cape and products are distributed nationally.
The deal does not include the operations in Botswana and Eswatini.
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By GlobalDataBruce Henderson, CEO of Groot Drakenstein-based RFG, said the acquisition is aligned with its strategy of expansion through “value-accretive” acquisitions.
“The frozen pie and snack category in the top-end retail market complements RFG’s growing pies and pastries business. The acquisition has the potential to generate good synergies for the company while also diversifying our offering into the retail channel,” he said.
The transaction, which is subject to approval by the country’s Competition Commission, is expected to be effective from January next year.
Just Food has asked Tygervalley-based Pioneer, which manufactures brands such as Wellington’s sauces, Weet-Bix cereal and Peck’s Anchovette spread, for its reaction to the deal.
US food and beverage giant PepsiCo announced its acquisition of Pioneer in July but it only cleared its final competition hurdle in March last year.
Last month, RFG announced it would promote deputy CEO Pieter Hanekom to the top job of chief executive. Hanekom will succeed Henderson in October.
