RFG is to acquire the market-leading frozen foods business from Pioneer Foods which owns the well-known brands Today, Mama’s, Big Jack and Man’s Meal.
The product range includes frozen pies, pastry, sausage rolls, pizza and party packs, with the business commanding a strong presence in the frozen pies and pastry segment and 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.
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.