South African food producer Rhodes Food Group (RFG) will acquire the frozen foods business of Pioneer Foods, save for any operations in Botswana and Eswatini.
RFG, 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 services the South African top-end retail market. Manufacturing is conducted from a facility in Atlantis in the Western Cape and products are distributed nationally.
RFG CEO Bruce Henderson said the acquisition is aligned with RFG’s 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 is subject to approval by the Competition Commission and the effective date is expected to be 1 January 2022.