Kraft Heinz is selling its half of a joint venture in South Africa, meaning Pioneer Food Group Limited will control all of Heinz Foods South Africa.
The announcement from the global food maker said Kraft Heinz’s subsidiary Heinz Foods South Africa Pty Ltd. now holds 50.1 percent of the joint venture.
Terms of the deal, which is expected to close early next year if regulators approve, were not disclosed.
“By acquiring full ownership of Heinz Foods South Africa, we look forward to the further growth and development of the portfolio that includes a range of number one or two brands in their respective categories,” said Pioneer Foods CEO Tertius Carstens, in the announcement.
The new owner will continue to make and sell Heinz ketchup and to distribute HP and Lea & Perrins sauces, as well as some other Kraft Heinz products.
“We believe this change is an excellent opportunity for the business and our employees to leverage Pioneer Foods’ existing scale and platform in South Africa to grow the business further,” said Felipe Guimaraes, managing director of Kraft Heinz Middle East and Africa, in the announcement.
Kraft Heinz was formed in 2015 from the merger of Pittsburgh-based H.J. Heinz and Illinois-based Kraft Foods. It is dually headquartered in Pittsburgh and Chicago.
By Teresa F. Lindeman
Source: Pittsburgh Post Gazette
Health and nutrition giant DSM is showcasing a new integrated F&B operating structure that unifies food specialties, hydrocolloids and nutritional products. Positioned as a business group, it will harness the gamut of taste, texture and health solutions to manufacturers in the F&B sector.
FoodIngredientsFirst speaks to key suppliers Corbion, Agrana Fruit and Kerry to discuss what core strategies are helping keep food businesses up-to-speed with their environmental reporting while remaining bias-free.
France banned the use of the additive in 2020, leading companies such as Lonza to launch Vcaps Plus White Opal, its first commercially-available titanium dioxide-free semi-opaque capsule for food supplements. The move followed several lobby groups urging the European Commission to prohibit TiO2.