Rhodes Food stock faces a merger reversal threat

Rhodes Food stock, ISIN ZAE000191979, is tied to a ZAR 6.5 billion merger that now faces a regulatory reversal after a planned cannery closure. On October 6, 2026, the Competition Commission applied to revoke approval of Premier's acquisition of RFG Holdings, formerly Rhodes Food Group, according to EWN.

Regulator challenges the merger

The application concerns the Tulbagh fruit-canning plant in the Western Cape. The Competition Commission alleges that Premier and RFG did not disclose plans to close the facility during the merger review, while the parties had undertaken to protect jobs after approval.

Daily Maverick reported that the tribunal approved the transaction on March 6, 2026, and that Premier completed it on March 30 through a share swap. If the application succeeds, the approval could be revoked, creating a path toward renewed conditions, penalties or an unwind of parts of the deal.

Tulbagh becomes the pressure point

The planned closure affects 424 workers, including 246 permanent employees and 178 fixed-term employees, according to Business Explainer. The same report says the plant processes 55,000 to 60,000 tonnes of fruit annually and exports ZAR 1 billion to ZAR 1.2 billion of products.

The figures give the dispute a broader supply-chain dimension. The plant buys fruit worth ZAR 300 million a year from growers, while its closure would leave Langeberg Foods as the only remaining cannery in South Africa, according to Business Explainer.

RFG is now inside Premier

Premier has integrated RFG into its Culinary division, making the former Rhodes Food business part of a larger packaged-food group. The combined company owns 52 consumer brands, operates 44 manufacturing plants and employs 15,500 people, Daily Maverick reported on October 7, 2026.

Premier's 2026 operating profit before interest and taxes grew 18.2 percent to ZAR 2.8 billion, while the group expects revenue of ZAR 21.2 billion to rise between 35 percent and 45 percent after full consolidation of RFG, according to Daily Maverick. Those figures describe Premier's enlarged group rather than a separately traded Rhodes Food security.

Rhodes Food stock has been delisted

RFG was delisted from the Johannesburg Stock Exchange through the share swap, according to Business Explainer. The regulatory dispute therefore concerns the completed corporate transaction and the former Rhodes Food business within Premier, rather than an actively quoted standalone share.

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