End of the road for 130-year-old South African food producer on the JSE

South African food producer RFG Holdings has been delisted from the JSE following its acquisition by Premier.

Established by Cecil John Rhodes in 1896 as Rhodes Fruit Farms, the company started out specialising in canned fruit and jams.

The company opened its first cannery in South Africa in 1905 at Groot Drakenstein in the Cape Winelands, where it produced fruit and jam.

In the 1950s, Rhodes expanded into dairy, establishing the Ayrshire dairy herd, which, today, is one of the oldest and most well-known stud herds in the country.

Over the next decade, the company continued its expansion, opening Swazican Fruit Canners in Eswatini in 1954 and adding Zululand Fruit Producers to its portfolio in 1956.

The business’s growth caught the attention of mining giants Anglo American, De Beers and Rand Selection Corporation, who became majority shareholders in Rhodes Fruit Farm in 1969.

This saw the company’s name change to Anglo American Farm, and a year later, it was listed on the JSE. 

Its ownership by the mining giants lasted for three decades, until 1999, when Anglo sold its food division to the Ivor Ferreira Trust and RFG Foods was formed.

The company has continued to grow in the decades since, and today boasts beloved brands such as Rhodes, Bull Brand, Magpie, Hinds Spices, Bisto, Mama’s Pies, and Pakco in its portfolio.

“Since we began as a canned fruit and jams producer in 1896, the group has grown into a multinational food producer,” the company states on its website.

Today, RFG packages premium private label product ranges for key retailers and houses numerous flagship brands.

In 2025, another major change was announced for RFG when its competitor, Premier, announced plans to buy the food producer.

The start of a new era

Premier is a South African institution in its own right, having been established even before RFG in 1824.

The company first announced its intention to buy RFG in October 2025 and, on Tuesday, 31 March, the deal was completed.

“Today marks another major milestone in Premier’s nearly 202-year history. The long-awaited acquisition of RFG Holdings Limited has been concluded,” Premier said in a social media post.

The acquisition will see RFG be fully integrated into Premier as its new Culinary business, operating alongside the company’s Bakeries, Milling, Confectionery and Home & Personal Care segments.

Premier CEO Kobus Gertenbach said this marks “an important step in bringing together two businesses with strong brand portfolios, deep manufacturing capability and a shared commitment to serving consumers”.

“With leading brands such as BB Bakeries, Blue Ribbon, Snowflake, Lil-Lets and Mister Sweet already part of the Premier basket, the addition of Rhodes Quality, Bull Brand, Hinds and others strengthens our portfolio of trusted brands for consumers.”

Notably, the company said RFG’s consumer brand portfolio will retain its brand names and identities. 

“This acquisition firmly entrenches Premier as the second-largest food manufacturer listed on the JSE,” the company said. Tiger Brands is currently the largest JSE-listed food producer.

Premier employs over 15,500 employees, with 47 manufacturing facilities and 28 depots across South Africa, Eswatini, Lesotho and Mozambique, with 53 brands in its stable.

“The combined portfolio offers meaningful synergies and growth opportunities for our brands and employees in the years ahead,” the company said.

“We are pleased to welcome the Culinary team and look forward to their contribution as part of Premier.”

Based on RFG and Premier’s results for the 12 months to 30 September 2025, the combined entity is expected to generate revenues of approximately R28.6 billion.

With the transaction now complete, RFG was delisted from the JSE on 31 March 2026, ending its 56-year history on the exchange.