BIGGEST DEAL TO DATE
Rhodes Food grows pie offerings in Ma Baker deal
Rhodes Food Group now holds a fat slice of SA’s pie and pastry market after snapping up Ma Baker for R212m
Acquisitive Rhodes Food Group now holds a fat slice of SA’s pie and pastry market after snapping up Ma Baker for R212m — the company’s biggest deal to date. Ma Baker produces pies, pastries and snacks at manufacturing facilities in Pinetown and Pietermaritzburg. These are sold nationally through distribution centres in Johannesburg, Bloemfontein, Port Elizabeth and Cape Town. Rhodes CEO Bruce Henderson said the group’s strategy was to complement organic growth by acquiring food producers that would strengthen existing product categories or allow for entry into complementary products. Rhodes entered the pie market in 2004 and produces pies and pastries under its Magpie and Saint Pie brands as well as private labels for Woolworths and Corner Bakery. Henderson contended the acquisition would not only create integration synergies in the pie business but also in the snacking and bakery operations, with recently acquired Alibaba Foods and General Mills SA. The Ma Baker deal is the eighth ...
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