Sugar tax effect smaller than thought, says Pioneer Foods

SOUTH AFRICA - The health promotion levy, or sugar tax, will not be as negative for beverage producers as has been initially expected, Pioneer Foods says in its latest integrated report for 2017. While the levy was expected to "add materially to the costs of certain products", Pioneer said "the impact will be considerably smaller…

Pioneer Foods’ full-year profit plunges on lagging effects of drought

SOUTH AFRICA - Pioneer Foods sees a recovery in the 2018 financial year after disappointing results in the year to September. The food and beverage manufacturer attributed its negative performance to constrained trading conditions, price hikes and an unfavourable procurement position in the first half of the financial year, following the severe drought that hit…

Pioneer Foods to acquire full ownership of Heinz Foods South Africa

SOUTH AFRICA – Leading South African food group, Pioneer Foods has that announced it will acquire the outstanding 50.1% in the joint venture with a subsidiary of the Kraft Heinz Company in the country. The company will take the portion of Heinz SA Proprietary Ltd that it did not already own, with the tomato ketchup…