Pioneer Foods’ division Bokomo upgrades milling plant for increased efficiencies

BOTSWANA - Bokomo Foods, a breakfast cereals company and division of Pioneer Foods (Pty) Ltd has unveiled an extensive mill upgrade which it had been undertaking since the first quarter of 2018, reported Botswana Daily News. According to the company’s CEO Mr Werner De Beer, the upgrade was a first of its kind in the…

Pioneer Foods posts 3% dip in turnover as maize recovers from drought

SOUTH AFRICA - Pioneer Foods, the maker of Sasko and Veet-Bix brands has reported a 3% marginal decrease in group turnover to US$784.22 million from US$807.78 million attributed to price deflation in soft commodities that weakened price realisations, principally in maize and to a lesser extent, wheat and rice. For the six months ended 31…

Pioneer Foods and Kraft Heinz merger approval to wait longer

SOUTH AFRICA - SA’s body mandated to adjudicate competition matters, the Competition Tribunal has postponed its judgement relating to proposed merger deal between Pioneer Foods and Kraft Heinz. Pioneer Foods had tabled a bid to acquire half of the South African operations of Kraft Heinz, the US grocery manufacturing and processing conglomerate headquartered in Chicago.…

Pioneer Foods bid to acquire Heinz Food SA approved albeit conditionally

SOUTH AFRICA - The bid by Pioneer Foods to a majority stake in Heinz Food SA has received a greenlight from South Africa's Competition Commission on condition that no jobs are lost as a result of the merger. The commission elaborated that the deal would impact on employment thus the companies were required not to…

Pioneer Foods signals higher profit of upto 44% for the first half

SOUTH AFRICA - The South African packaged goods company Pioneer Foods expects half year operating profit to increase 44% while headline earnings to go up 32% despite of a decline in revenue. Sales volume increased, while some of its main brands recorded a higher market share, others remained fairly stable promising a better first-half performance…

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…