Pioneer Foods adds granola brand to portfolio
Pioneer Food Group a subsidiary of Pioneer Foods has announced that it has added the granola brand Lizi’s to its range of breakfast cereals.
The transaction sees Pioneer Foods UK acquiring 100% of the issued share capital of The GoodCarb Food Company, (owner of Lizi’s granola brand), for an undisclosed amount.
Pioneer Foods UK has been manufacturing Lizi’s products under contract for The GoodCarb Food Company. The acquired company will continue to run the sales and marketing function separately to Pioneer Foods UK’s existing business, operating from its current site in Cardiff, Wales.
Tertius Carstens, Pioneer Foods CEO, says, “This purchase is in line with our strategic plans for acquisitions in geographies and categories where we have an existing presence.
“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 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.”
