PIONEER FOOD GROUP LIMITED - Voluntary Announcement: Pioneer Foods To Acquire Full Ownership Of Heinz Foods SA

Voluntary Announcement: Pioneer Foods To Acquire Full Ownership Of Heinz Foods SA

Pioneer Food Group Limited
Incorporated in the Republic of South Africa
Registration number: 1996/017676/06
Share code: PFG
ISIN code: ZAE000118279
(“Pioneer Foods”)

Voluntary announcement: Pioneer Foods to acquire full ownership of Heinz Foods
SA

Pioneer Foods is pleased to announce the acquisition of the outstanding 50.1% in its joint
venture, from Heinz Foods SA Proprietary Limited, a subsidiary of the Kraft Heinz
Company. At the close of the transaction, Heinz Foods SA will become a wholly owned
subsidiary of Pioneer Foods.

Pioneer Foods CEO, Tertius Carstens commented, “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.”

As part of the transaction, Pioneer Foods will enter into a two-year agreement with Kraft
Heinz pursuant to which they will manufacture and distribute Heinz tomato ketchup products.
Pioneer Foods will also distribute HP & Lea Perrins products and certain other Kraft Heinz
products. “We will continue to work with Kraft Heinz to support the expansion of the Kraft
Heinz brands in South Africa,” said Carstens.

“We believe this change is an excellent opportunity for the business and our employees to
leverage Pioneer Foods’ existing scale and platform in South Africa to grow the business
further,” says Felipe Guimaraes, Managing Director of Kraft Heinz Middle East and Africa.

The transaction is expected to close in the first quarter of 2018, pending regulatory
approval.

6 November 2017
Bellville

Sponsor and Transaction Advisor
PSG Capital

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