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The company owns and operates two large farms covering more than 2,200 hectares and produces roughly 28,000 tonnes of pineapple each season. These operations are Rainforest Alliance certified, reflecting compliance with environmental and labour standards.
In 2024, RFG invested part of a R324 million capital programme in upgrading its Eswatini production facilities and expanding processing capacity.
The Malkerns operation employs hundreds of seasonal and permanent workers, making it one of the largest agricultural employers in the region.
Premier FMCG, meanwhile, already has a strong footprint in Eswatini through its milling and bakery operations in Matsapha, which produce popular brands such as Blue Ribbon, S.U.B., and Iwisa.
The company acquired Eswatini Bakery in 2012 and the Eswatini Mill in 2014, steadily building its local manufacturing base.
With both companies active in the country\u2019s food manufacturing sector, the proposed merger would unite two of Eswatini\u2019s key employers under one parent company.
Industry observers say the merger could have significant implications for workers, supply chains, and the local economy.
The proposed merger requires approval from both RFG shareholders and the Competition Commission of South Africa, as well as clearance from relevant authorities in Eswatini, where both companies have operations.
According to the joint statement released in October, shareholders holding 77.7 percent of RFG\u2019s issued shares have already indicated support for the transaction.
If approved, RFG will be delisted from the JSE and integrated into Premier FMCG\u2019s structure.
Premier has stated publicly that the merger will not lead to large-scale job losses, and that existing management at RFG will remain in place for \u201ccontinuity and operational stability.\u201d
Meanwhile Market analysts view the deal as part of a broader consolidation trend within the fast-moving consumer goods (FMCG) industry.
A Johannesburg-based food sector analyst, speaking to Eswatini Daily News said the merger could create a stronger, vertically integrated regional powerhouse.
\u201cThe two businesses are complementary. Premier dominates in baked goods and staples like maize and wheat, while RFG is strong in convenience and canned foods. Together, they could achieve significant economies of scale and operational synergies,\u201d said the analyst.
He further said the success of such mergers often depends on how the companies manage cultural integration and workforce communication especially across borders like Eswatini.
However on the ground in Malkerns, uncertainty remains high. Workers say the lack of formal communication has fueled rumours that job cuts may follow the merger.
\u201cIt\u2019s the silence that\u2019s worrying. When management doesn\u2019t tell us what\u2019s happening, people assume the worst,\u201d one employee said.
Some employees say they are especially concerned about the company\u2019s December bonus payments, traditionally a key part of their annual income.
\u201cIf the new company takes over before Christmas, we don\u2019t know if we\u2019ll still get our bonus,\u201d another worker said.
Labour representatives contacted for comment said they were monitoring the situation closely.
\u201cWe are aware of the proposed merger between Premier and RFG, and we are in communication with management to ensure that workers\u2019 rights are protected,\u201d said a representative.
\u201cAt this stage, there is no formal notice of retrenchment or change in employment terms, but we are demanding full transparency as the process unfolds,\u201d said another representative from the Ministry of Labour and Social Security.
Meanwhile Economist Dr. Mbongeni Dlamini, based in Manzini, said such mergers often bring both opportunities and challenges for smaller economies like Eswatini\u2019s.
\u201cOn one hand, an acquisition of this scale can strengthen investment and production capacity. But on the other hand, there\u2019s always the risk of rationalisation companies combining departments or cutting duplicate functions,\u201d he said.
In addition he said it’s important that the competition authorities look not only at market concentration but also at employment impact.
Worth noting, RFG\u2019s management insists that there are no immediate changes to staff structures, operations, or management reporting lines.
The company\u2019s internal communication to employees, notes that the acquisition is progressing through the necessary regulatory stages and that all employees will be kept informed as the process continues.
Despite that assurance, employees at the Malkerns plant say they will not relax until the matter is finalised.
Industry experts say that the ultimate impact of the deal will depend on how both companies manage their integration, especially in smaller markets like Eswatini.
\u201cWorkers need consistent communication. If handled carefully, the merger could create growth and secure jobs. But if communication fails, fear and misinformation could undermine morale and productivity,\u201d said a regional business consultant familiar with both firms.<\/p>\n