South African billionaire Christo Wiese’s stake in Blue Ribbon owner diluted after R6bn RFG deal

South African billionaire Christo Wiese has seen his ownership stake in the company behind Blue Ribbon reduced following a nearly R6 billion acquisition by food producer RFG Holdings, according to News24.

The report said Wiese’s slice of Premier Group — the owner of Blue Ribbon bread and other household brands — was trimmed after Premier completed its takeover of RFG in a deal valued at close to R6 billion.

Premier Group, one of South Africa’s largest food manufacturers, has been expanding through acquisitions as it seeks greater scale across groceries, baking, and consumer staples. The purchase of RFG adds a portfolio of packaged food brands and manufacturing assets, strengthening Premier’s position in a highly competitive market.

Wiese, one of South Africa’s best-known investors, has long held interests in retail and consumer businesses. While his percentage ownership has declined because of new shares or deal structuring linked to the transaction, the value of his investment could still rise if the enlarged group performs strongly.

The transaction highlights ongoing consolidation in South Africa’s food sector, where companies are pursuing bigger product portfolios and operational efficiencies to offset pressure from inflation, weak consumer spending, and rising logistics costs.

For investors, the key issue is less the dilution itself and more whether the RFG acquisition delivers stronger earnings growth, wider market share, and improved margins for Premier over time.

Neither Premier Group nor Wiese had publicly signaled concern over the ownership adjustment, with the move largely viewed as a normal consequence of a major corporate takeover.