Pioneer Foods confident competition authorities won't reject R24.4bn PepsiCo deal
25/07/2019 - 15:00
Pioneer Foods CEO Tertius Carstens is confident that the company’s R24bn takeover by PepsiCo will be approved by competition authorities, as he believes the acquisition has no negative implications for local industries.
Pioneer Foods deal will be PepsiCo's biggest in Sub-Saharan Africa
22/07/2019 - 09:04
The US food and beverages company says the deal, worth about R24bn, will boost the SA economy.
Food and beverages giant PepsiCo makes offer to acquire Pioneer Foods
19/07/2019 - 10:18
In a vote of confidence about SA’s long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth at least R25.4bn.
Pioneer Foods’ shares plunge to six-year low on earnings decline
20/05/2019 - 16:24
Shares in Pioneer Foods, which makes Sasko bread and Ceres juice, plunged to a six-year low after the group said it was struggling to pass on higher costs to consumers.
Pioneer Foods boosted by higher prices
18/02/2019 - 08:54
Higher prices of bread, wheat flour, rice and export fruit boosted branded foods and beverages producer Pioneer Foods’ performance in the four months ended January 31.
Pioneer Foods puts drought behind it
21/05/2018 - 09:42
Pioneer Foods enjoyed an improved performance in the six months to March, helped in part by a low base created in the year-earlier period when it was still dealing with the effects of the drought.
Pioneer expects solid recovery from last year’s torrid first half
19/04/2018 - 11:35
Earnings rose as much as 32%, and although revenue dipped, sales volumes rose and market share of some if its main brands either grew or was stable.
Price deflation in soft commodities hit Pioneer Food's turnover
09/02/2018 - 11:05
South Africa’s Pioneer Food Group reported on Friday a 2.4 percent drop in turnover for the three months ended December, largely due to sales price deflation in soft commodities.
Sugar tax effect smaller than thought, says Pioneer Foods
21/12/2017 - 14:29
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.
Pioneer Foods' full-year profit plunges on lagging effects of drought
21/11/2017 - 10:07
Pioneer Foods sees a recovery in the 2018 financial year after disappointing results in the year to September.
Heinz Foods SA to become wholly owned subsidiary of Pioneer
07/11/2017 - 08:52
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.
Rhodes Food falls 4.5% after earnings warning
30/10/2017 - 17:15
The share price of Rhodes Food fell 4.5% to R19 on Monday morning after it warned that earnings had fallen by up to 30%.
Pioneer’s shares fall after profit warning
23/10/2017 - 10:34
Pioneer Foods’s share price fell 6% to R110.62 after it warned shareholders its earnings for the year to end-September had halved.
PIONEER FOODS: Shake-up spooks the market
14/09/2017 - 15:58
As the food group faces a tough second half, uncertainty around the CEO’s sudden resignation has also taken a toll.
Pioneer shares plummet in the wake of CEO's exit
05/09/2017 - 10:10
The share price of consumer brands conglomerate Pioneer Foods plunged on Friday on news that highly rated CEO Phil Roux would retire in October.
Acquisitive Rhodes escapes drought woes
23/05/2017 - 12:29
Acquisitive food producer Rhodes appears to have survived the drought better than its larger rivals, reporting both turnover and profit growth for the first half of its financial year.
Pioneer mum on nixed deal
05/05/2017 - 14:19
There is speculation about the details of a potential deal that did not materialise after SA’s credit rating was downgraded.
Downgrades clip Pioneer’s wings
24/04/2017 - 14:01
The food and beverage manufacturer’s expansion into Africa and other territories would have allowed for growth, says analyst.
Tiger Brands ‘solid’ but Pioneer sees profit drop
24/02/2017 - 14:49
Drought hits Pioneer’s earnings, while a ‘solid domestic market’ saves Tiger Brands from weak trading conditions across Africa.
Rhodes and Pioneer warn over drought
22/11/2016 - 09:56
Strain could be felt in 2017, food producers say as country swings to importing white maize
Pioneer Foods aqcuires a strategic stake in Weetabix East Africa
16/11/2016 - 16:08
Pioneer Foods Group Limited announced today that it would acquire a 49.8% stake in major FMCG manufacturer Weetabix East Africa Limited for an undisclosed amount. This will establish a strategic beachhead for Pioneer Foods in East Africa and the opportunity to build a significant cereal position in the region.
Pioneer Food forecasts earnings growth, despite challenges
26/10/2016 - 10:10
Fast-moving consumer goods company Pioneer Food Group expects to deliver credible full-year results, despite the effects of the drought, which have already put a squeeze on the company’s interim earnings. For the year to end-September, Pioneer will report an increase in headline earnings per share of between 30% and 40%, from headline earnings per share of 665c in the previous year.
Tiger Brands’ immunity queried
04/04/2016 - 10:46
The long-running probe into the milling cartel on Thursday encountered an obstacle that could strip Tiger Brands of the immunity it received from the Competition Commission for providing information on maize price fixing.
Drought weighs on Pioneer
15/02/2016 - 10:24
Johannesburg - Pioneer Foods Group said a drought in South Africa is weighing on earnings as soaring grain prices hit volumes and margins at the country’s second-biggest food maker.
Food makers can’t cope
19/01/2016 - 10:39
Johannesburg - South Africa’s worst drought on record, a plunging currency, and debt-burdened consumers are weighing on the country’s biggest food producers, who may sacrifice profits in order to keep prices affordable and preserve market share.
Account Gains – Pollination process at HoneyKome continues
28/07/2015 - 11:01
Working on products as diverse as the likes of Garnier, Vodacom, the PSL, and Pioneer Foods, to mention a few, HoneyKome has racked up a wide range of expertise in the Digisphere. With a history of delivering successful digital solutions across various marketing and communication disciplines (often with a 'real world' cross over, too,) the team at HoneyKome has seen some excellent new account gains in recent months.
Pioneer Foods plans more African acquisitions
19/03/2015 - 12:03
Lagos - Pioneer Foods Ltd, a South African food and beverage producer, plans acquisitions in at least five more African countries after taking a majority holding in Nigerian competitor Food Concepts PLC.
Bread market ‘competitive’ in KwaZulu-Natal and Western Cape
13/03/2015 - 11:48
The bread market in KwaZulu-Natal and the Western Cape has become "very competitive" on prices, according to Tiger Brands, which owns the Albany brand.
Pioneer profit up as PepsiCo contract ends
25/11/2014 - 11:16
Johannesburg - Pioneer Food said profit rose 35 percent as the South African company recovered from a 2013 write-down of the poultry unit it spun off.
AVI’s group revenue up despite consumer constraints
04/11/2014 - 09:12
Despite the constrained consumer environment, demand for AVI’s brands was sound, chair Gavin Tipper said at the group’s annual general meeting on Thursday.
Pioneer Foods details Quantum spin off
19/09/2014 - 09:17
Johannesburg - Pioneer Foods, a South African cereals and fruit-juice producer, will offer investors one Quantum Foods Holdings share for every Pioneer security as its poultry company prepares an initial public offering.
Meal products modified
31/07/2014 - 14:49
Bokomo Foods Namibia said this week that it has upped its game in the maize meal sector with the introduction of its new and improved range of Special, Super, and Unsifted maize meal products.
Egg producer apologises for abuse
13/06/2014 - 09:06
Egg producer Quantum Foods, a subsidiary of Pioneer Foods, had unreservedly apologised for the abusive treatment laying hens received at its Phokeng depot in Rustenburg, the National Society for the Prevention of Cruelty to Animals (NSPCA) said on Wednesday.
Pioneer to slash jobs in cost cut drive
21/10/2013 - 11:17
Johannesburg - Food manufacturer Pioneer Foods [JSE:PFG] is cutting jobs as part of a restructuring process to reduce costs in the face of constrained consumer spending, its chief executive has said.
Pioneer Foods expects slower spending
21/05/2013 - 07:49
Pioneer Foods Ltd. said it expects slower spending to curb its full-year performance.
Pioneer Foods appoints new chief
25/02/2013 - 08:52
Johannesburg - South Africa's Pioneer Foods on Friday named a veteran executive from its main rival as its next chief executive, sending shares of the bread and cereal maker higher.
Pioneer Foods MD to retire
18/10/2012 - 08:41
Johannesburg - Pioneer Food Group [JSE:PFG] has announced the retirement of André Hanekom as group managing director with effect from 31 March 2013.
Pioneer Food revenue up 10.5%
05/09/2012 - 10:31
Johannesburg - Pioneer Food Group Limited [JSE:PFG] said in a trading update before its closed period that revenue for the eleven months to end August increased by 10.5% to R16.7bn with volumes contracting by between 2% and 4% on average in the group’s product basket as consumer spend remains constrained.
India prepares tough drought measures
31/07/2012 - 08:16
New Delhi - Indian ministers will meet on Tuesday to discuss measures to deal with a feared drought, including curbs on commodity derivatives, extra subsidies to farmers and the distribution of seeds, but are not expected to ban farm exports.
Pioneer foods BEE deal takes chunk out of earnings
26/04/2012 - 09:29
The R160 million once-off, share-based payment charge that came into effect after phase two of Pioneer Foods’ broad-based black economic empowerment (BEE) transaction, could have an impact on the company’s interim results, which are scheduled for publication on May 21. The scheme was implemented in the third week of March
Pioneer Foods does R1bn second phase of BEE deal
23/03/2012 - 07:55
Pioneer Foods had partially implemented phase two of its share issue to strategic black economic empowerment (BEE) partners worth more than R1 billion, the food producer said this week. It had issued more than 18 million shares at R58.72 each, which were listed on Monday.
Slowdown in spending hits Pioneer Foods
19/03/2012 - 08:53
Pioneer Foods said in a trading update on Friday that revenue rose 13% in the five months to the end of February, but volumes fell by an average 4%-6% in the group’s product basket on lower consumer spending.
Pioneer in second phase of BEE deal
12/12/2011 - 08:48
Johannesburg - Pioneer Food Group (PFG) on Friday unveiled the second phase of its broad-based black economic empowerment (B-BBEE) deal to broaden and increase direct black ownership in the company.
Penalties hit Pioneer’s performance
29/11/2011 - 08:11
Food group still required to pay fine of R200m for price-fixing, extraordinarily competitive landscape caused by competition settlement
Pioneer lifts profit, outlook cautious
29/11/2011 - 07:49
Johannesburg - Pioneer Food Group [JSE:PFG] reported a jump in full-year earnings on Monday helped by increased sales and said cost pressures and consumer spending will influence its performance ahead.
Pioneer posts sharp profit hike
23/05/2011 - 07:39
Johannesburg - Pioneer Food Group posted a sharp rise in first-half profit on Monday and said it sees a tough trading environment ahead as input costs rise and consumer spending patterns remain uncertain.
Pioneer results hit by penalty
31/03/2011 - 00:00
Johannesburg - Pioneer Food Group [JSE:PFG] on Wednesday said its results for the first half ended March 31 will likely differ from last year's, as a result of the R350m it set aside to pay a penalty for anti-competitive behaviour.