South Africa’s RFG to buy Pioneer Foods’ frozen foods business

South African food producer Rhodes Food Group (RFG) has announced that it will acquire Pioneer Foods’ frozen foods business.

The transaction is subject to approval by the Competition Commission and is expected to close on 1 January 2022.

Pioneer Foods owns the Today, Mama’s, Big Jack and Man’s Meal brands and the company’s frozen product offerings include pies, pastry, sausage rolls, pizza and party packs. The frozen foods business supplies the South African ‘top-end’ retail market, according to RFG.

Products are manufactured at a facility in Atlantis in the Western Cape and distributed nationally.

RFG’s purchase of the frozen foods business is said to be 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,” said RFG CEO, Bruce Henderson.

“The acquisition has the potential to generate good synergies for the company while also diversifying our offering into the retail channel.”

The financial terms of the transaction have not been disclosed.