Food Concepts Plc, the Nigerian parent company of Free Range Farms, Butterfield Bakery and Chicken Republic, has reportedly partnered with South Africa based Pioneer Foods.
Deji Akinyanju, Food Concepts Chairman, said: “The partnership will benefit from the combination of the respective strengths, which will be used to tap into the vast opportunities in the Nigerian FMCG sector to deliver extraordinary value to customers.”
The resultant partnership sees Food Concepts’ Baked Goods Division becoming Food Concepts Pioneer Limited, with 49.9% stake staying with Food Concepts and 50.01% stake going to Pioneer Foods
According to a report in Nigerian national newspaper, Butterfield Bakeries would be housed by Food Concepts, permitting Pioneer Foods to leverage on brand recognition and existing infrastructure. Many operational changes at Butterfield Bakeries would be implemented by Pioneer Foods to improve consistency and increase efficiency.