November 7, 2017

1 Min Read
Kraft Heinz Sheds Stake in South African JV to Pioneer Foods
Kraft Heinz will continue to distribute its products in South Africa following the sale of its joint venture stake to Pioneer Foods. Image courtesy of Flickr user jeepersmedia

South African packaged foods firm Pioneer Foods moved to purchase full ownership of a Kraft Heinz Company joint venture in the country, Heinz SA Proprietary Ltd, the company announced in a press release Tuesday.

“By acquiring full ownership of Heinz Foods SA, 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,” the South African firm’s chief executive officer, Tertius Carstens, said in a statement.

Under the agreement, Kraft will continue to produce and distribute Heinz tomato ketchup products in the country, and Pioneer Foods will distribute Kraft’s HP and Lea Perrins brands, in addition to other select Kraft brands.

“We will continue to work with Kraft Heinz to support the expansion of the Kraft Heinz brands in South Africa,” said Carstens.

The companies expect the transaction to close in the first quarter of 2018, the release said.

Pioneer is one of South Africa’s largest producers of food and beverage products.

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