Heinz Foods SA to become wholly owned subsidiary of Pioneer
US multinational Kraft Heinz is selling its 50.1% stake in its South African operations to joint-venture partner Pioneer Foods for an undisclosed amount. Pioneer said on Monday evening that it was turning Heinz Foods SA into a wholly owned subsidiary. Kraft Heinz’s Middle East and Africa MD, Felipe Guimaraes, said Pioneer had the "existing scale and platform in SA to grow the business further". The deal allows Pioneer to manufacture Heinz’s flagship tomato sauce — or ketchup as it is known in the US — and other products for two years. Pioneer said it would distribute HP & Lea Perrins products and some other Kraft Heinz products. "We will continue to work with Kraft Heinz to support the expansion of the Kraft Heinz brands in SA," Pioneer CEO Tertius Carstens said in the statement.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.