South Africa-based food business Rhodes Food Group (RFG) has announced the acquisition of the frozen food business of domestic peer Pioneer Foods for an undisclosed sum.
Pioneer Foods’ frozen foods portfolio includes pies, pastries, sausage rolls, pizza, and party packs, and the brands Today, Mama’s, Big Jack, and Man’s Meal. Manufacturing is conducted from a facility in Atlantis in the Western Cape and products are distributed nationally, according to RFG.
RFG CEO Bruce Henderson commented: “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”.
The deal follows PepsiCo’s acquisition of the entirety of the Pioneer Foods business in 2019.
The transaction is expected to close on 1st January 2022.