South African billionaire Christo Wiese’s Premier Group targets $1.7 billion in revenue

Premier Group, a consumer packaged goods company listed on the Johannesburg Stock Exchange and partly owned by South African billionaire Christo Wiese, is aiming for $1.7 billion in annual revenue with its proposed acquisition of RFG Holdings.

Swap deal to boost Premier Group revenue to $1.7 billion

The landmark deal, structured as a share swap valued at up to R5.9 billion ($360 million), is set to combine the two South African food producers into one larger group. Premier Group said the transaction would create a company with nearly R28 billion ($1.7 billion) in annual revenue and a projected profit after tax of R1.7 billion ($103.1 million).

The acquisition also provides a premium for RFG shareholders while expanding Premier’s presence in Southern Africa. Premier operates across South Africa, Mozambique, Eswatini, Lesotho, and maintains a sales office in the United Kingdom. Under the terms, Premier will offer one of its shares for every seven RFG shares held.

Premier strengthens packaged foods presence

The swap reflects a 35.6 percent premium on RFG’s closing price and a 37.5 percent premium on its 30-day average price as of Oct. 14, 2025. Based on reference prices of R22 ($1.33) per RFG share and R154 ($9.3) per Premier share, RFG shareholders would hold a combined 22.5 percent stake in the enlarged Premier Group. The deal will strengthen Premier’s position in the packaged foods sector, broaden its revenue mix, and support continued returns to shareholders.

Premier’s scale in the market is substantial. Titan Premier Investments, Christo Wiese’s private investment firm, owns 45.53 percent of Premier Group. The company controls 28 percent of South Africa’s formal bread market, 38 percent of the wheat market, 15 percent of sugar confectionery, and 22 percent of the feminine care market.

Christo Wiese’s stake grows with Premier gain

Despite spending R2.8 billion ($170 million) on new capital over the past five years, the company has continued to do well financially, with a return on invested capital of 24.9 percent as of March 31, 2025. Free cash conversion stood at around 73 percent for the 12 months ending Mar. 31, 2025, with net debt of R1.7 billion ($103.1 million), reflecting a leverage ratio of 0.7x.

Since announcing the acquisition on Oct. 16, Premier’s share price has risen more than 13 percent, reaching R168.31 and lifting its market capitalization to R21.7 billion ($1.3 billion). Christo Wiese’s 45.53 percent indirect stake through Titan Premier Investments is now valued at R9.88 billion ($600 million), further securing his position among Africa’s richest individuals.