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Voluntary Announcement: Pioneer Foods To Buy Leading UK Granola Brand Lizi’s
Pioneer Food Group Limited
Incorporated in the Republic of South Africa
Registration number: 1996/017676/06
Share code: PFG
ISIN code: ZAE000118279
(“Pioneer Foods” or “the Company”)
Voluntary Announcement: Pioneer Foods to buy leading UK granola brand Lizi’s
Pioneer Foods today announced that it is adding the UK-based granola brand, Lizi’s to its stable of well-
known breakfast cereals. Pioneer Foods is the market leading breakfast cereal manufacturer in South Africa
with household brands such as Weet-Bix, ProNutro, and Bokomo corn flakes among others.
The transaction which is effective immediately sees Pioneer Foods UK (a 100% owned subsidiary of Pioneer
Foods) acquiring 100% of the issued share capital of The Good Carb Food Company, (owner of the Lizi’s
granola brand), for an undisclosed amount.
Pioneer Foods UK has been manufacturing Lizi’s products under contract for The Good Carb Food Company,
and has been instrumental in co-developing products for some time and as a result has gained significant
product and market knowledge.
"This purchase is in line with our strategic plans for acquisitions in geographies and categories where we
have an existing presence,” says Pioneer Foods CEO Tertius Carstens and adds “we are confident that this
deal will benefit both the Lizi’s business as well as our own, given the synergies between the companies.
Lizi’s granola is a very popular product thanks to its healthy and wholesome attributes and we’re thrilled to
welcome it into the Pioneer Foods family. ”
Within the UK cereal sector, granola is one of the fastest growing categories and this creates a unique and
beneficial opportunity for Pioneer Foods. “Lizi’s is the fastest growing brand in the UK’s fast accelerating
granola category. The brand has shown exceptional growth over the last three years and is now the number
2 brand in its category.” says Carstens.
About Pioneer Foods UK
Pioneer Foods UK (formerly, Bokomo Foods UK) is an established breakfast cereal manufacturer in the UK
and is 100% owned by Pioneer Foods. The company focuses on the manufacturing of breakfast cereals, such
as wheat biscuits, granola and muesli, mostly private label, for the majority of the leading UK retailers. With
state-of-the-art production facilities (including one of only two wheat biscuit factories in the UK) and a
strong product development capability, the company is well positioned to meet ever-changing consumer
demands in the breakfast cereals category. In addition it enjoys a strong presence in the fruit-snacking
category within the UK.
About The Good Carb Food Company
Established in 2003 by Dr Mick Shaw and his wife Lizi, The Good Carb Food Company prides itself on being
a manufacturer of wholesome food that delivers sustained energy and protein throughout the day. The
company was the first to measure Glycemic Load (GL) in its products, including its Lizi’s granola products,
which helps control blood sugar levels.
13 December 2017
Bellville
Sponsor and Transaction Advisor
PSG Capital
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