Premier Foods acquires stake in Swaziland companies

UK-based Premier Foods has acquired a stake in two leading Swazi bread companies, Mr Bread and Swaziland United Bakeries (SUB) for €100m ($137.44m).

According to the company, the deal has been sealed but still requires clearance from the Swaziland Competition Commission.

Mr Bread general manager Nkhanyeti Ngwenya said that the company will be challenged to be innovative and to come up with new health products.

"With Premier Foods’ wide experience, they will help us a lot in increasing our capacity and improving our standards," Ngwenya added.

Mr Bread and SUB jointly employ about 700 people, but more jobs are expected to be added as their long-term plans are unveiled.

Premier Foods has about 11 bakeries across South Africa, and its leading brands include Blue Ribbon and Snowflake.