Firmenich to acquire South Africa’s Flavourome to expand African presence

SOUTH AFRICA – Swiss flavors and fragrance company Firmenich has announced its intention to acquire Flavourome, a privately-owned flavors company in South Africa, as it focuses its attention to Africa. Located in Midrand, South Africa, Flavourome has a strong presence in South Africa and the regional African market. It has been in operation since 1998.…

Franchisor targets 100 Burger King stores by end of 2018

SOUTH AFRICA - Empowerment company Grand Parade Investments (GPI), which is trading at close to a 12-month low, says it is confident of reaching the 75-store target for fast-food business Burger King by the end of June 2018. GPI – which has opened 70 Burger King stores across SA since securing the master franchise deal…

Steinhoff Africa exercises its call to acquire majority vote at Shoprite

SOUTH AFRICA - Africa's biggest food retailer, Shoprite, on Friday confirmed that Steinhoff Africa Retail (Star) had exercised the call options to acquire a 23.1percent economic stake in and a 50.6percent voting control of the company. “The implementation of the investment by Star in Shoprite Holdings is subject to a number of conditions precedent, including…

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…

Wheat Breeding Platform launched to improve yields

SOUTH AFRICA - The national Wheat Breeding Platform (WBP) has been launched by the Minister of Science and Technology, Naledi Pandor and with Stellenbosch University's Plant Breeding Laboratory (SU-PBL) as a key partner which aims to increase yields and boost the profitability of wheat produced in South Africa. The WBP draws on expertise from the private and…

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…