Pioneer Foods UK, the UK division of the South African food manufacturer, has announced that it is acquiring UK cereal firm Good Carb Food Company.
The transaction, which is effective immediately, sees Pioneer Foods UK acquiring 100% of the issued share capital of The Good Carb Food Company – owner of the market-leading Lizi’s granola brand – for an undisclosed sum. Pioneer Foods said it had been manufacturing Lizi’s brand granola products under contract and had been instrumental in co-developing products for some time.
Commenting on the deal, Pioneer Foods CEO Tertius Carstens said: “This purchase is in line with our strategic plans for acquisitions in geographies and categories where we have an existing presence. “we are confident that this deal will benefit both the Lizi’s business as well as our own, given the synergies between the companies. Lizi’s granola is a very popular product thanks to its healthy and wholesome attributes and we’re thrilled to
welcome it into the Pioneer Foods family”.
Source: Pioneer Foods (via Moneyweb)
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