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South Africa: Pioneer Foods to acquire all of Heinz Foods SA

04/12/2017 - François-Xavier Branthôme - Read in french

A two-year agreement with Kraft Heinz to manufacture and distribute Heinz tomato ketchup products

Pioneer Foods announced on 6 November that it is set to acquire the outstanding 50.1% in its joint venture, from Heinz SA Proprietary Ltd, a subsidiary of the Kraft Heinz Company – makers of the famous tomato ketchup. 
Other brands in the Heinz Foods SA stable are Wellington’s sauces and condiments, the John West range of canned seafood products, and other prepared meals, pies and pastries brands. According to a market update, Heinz Foods SA will become a wholly owned subsidiary of Pioneer Foods in 2018. 
 
By acquiring full ownership of Heinz Foods SA, we look forward to the further growth and development of the portfolio that includes a range of number one or two brands in their respective categories,” said Pioneer Foods CEO Tertius Carsten in statement. It did not say how much it would be paying for the outstanding 50.1% of Heinz Foods SA.
Pioneer, which sells a number of well-known brands including Sasko, Weet-Bix, Ceres fruit juice, White Star maize meal and more, said it would also be entering into a two-year agreement with Kraft Heinz to manufacture and distribute Heinz tomato ketchup products. It will also distribute HP & Lea Perrins products and certain other Kraft Heinz Products. 

Pioneer said the transaction was expected to be completed in the first quarter of 2018. 

Sources: www.fin24.com
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