Rhodes Food Group to acquire Saint Pie
South Africa's Rhodes Food Group is to buy pastry and pie maker Saint Pie in a R27m deal.
Saint Pie, set up in 1994, is a producer of pastry products, mainly savoury pies, and distributes to fuel station forecourts, food retailers and independent outlets throughout South Africa. It has distribution centres in Lydenburg, Pretoria and Welkom.
RFG said the acquisition would allow it to add to its existing pie business. It already has a pie and pastry facility in Gauteng that makes products under its Magpie brand. It also makes private-label products for South African retailer Woolworths Holdings.
The deal will see RFG pay R20m for Saint Pie, plus the company's R7m in liabilities.
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