PAARL – A historic chapter in South Africa’s food industry has come to a close in Groot Drakenstein, where RFG Holdings Limited (RFG) has officially been delisted from the Johannesburg Stock Exchange (JSE) following its acquisition by Premier Group Limited.

The transaction, finalised at the end of March after all conditions were met, sees Premier take full control of RFG and integrate the business into its expanding food portfolio, according to a JSE announcement.

The deal brings to a close more than five decades of RFG’s presence on the JSE, while also marking a significant moment for Groot Drakenstein, where the company’s roots run deep.

From Cape cannery to multinational producer

RFG’s origins date back to 1896, when it was founded by Cecil John Rhodes as Rhodes Fruit Farms. The business initially focused on preserved fruit and jam production, establishing its first cannery in Groot Drakenstein in 1905. Today this farm is known as Boschendal located outside Pniel.

Over the decades, the company diversified and expanded. By the mid-20th century, it had entered the dairy sector and broadened its footprint beyond South Africa’s borders, including ventures in Eswatini and KwaZulu-Natal.

Its growth attracted major industrial investors, with mining conglomerates becoming majority shareholders in 1969. This ushered in a new phase of corporate restructuring and led to its listing on the JSE shortly thereafter.

Following a change in ownership in 1999, the business evolved into what is now known as RFG, steadily building a portfolio of household brands including Rhodes, Bull Brand, Hinds Spcies, Today and Mama’s Pies among others.

A new chapter under Premier

Premier, itself a long-established South African company founded in 1824, announced its intention to acquire RFG in October 2025. The transaction was completed on 30 March, with the delisting of RFG taking effect the following day, according to the JSE announcement.

Under the new structure, RFG will form part of Premier’s culinary division, alongside its existing bakery, milling, confectionery and personal care operations. The company has indicated that RFG’s established brands will continue to operate under their existing names.

The acquisition significantly strengthens Premier’s position in the market, placing it among the largest food producers listed on the JSE, alongside rivals such as Tiger Brands.

Industry impact and scale

The combined entity is expected to generate revenues of approximately R28,6 billion, based on recent financial results, and will employ more than 15,000 people across southern Africa, with an extensive network of manufacturing sites and distribution depots.