Merger Alert: Outcome of mergers decided by the Tribunal - 6 March 2026

Tribunal approves Premier acquisition of RFG subject to public interest conditions

The Tribunal has approved the merger in which Premier Group Ltd (“Premier”) will acquire RFG Holdings Ltd (“RFG”). As part of the transaction, RFG shareholders will receive shares in Premier. Once the merger is implemented, Premier will assume sole control of RFG.

The Tribunal has approved the transaction subject to public interest conditions relating to employment as well as spend on public interest initiatives. 

The acquiring group (Premier and the firms it controls) manufactures, distributes and markets branded and private label fast moving consumer goods in South Africa and across the Southern African region. Its portfolio includes well-known products in categories such as bread, wheat flour, maize meal, pasta, rice, biscuits, sugar confectionary, mageu and beverages, sanitary care and animal feed. Premier also produces a range of private label goods for major domestic retailers.

The target group (RFG and the firms it controls) manufactures a range of convenience meal solutions and packaged foods. These include pies, dairy products, fruit juices, fruit purees as well as long-life food products such as jams, fruits, salads, vegetables and meat. The group also has a significant presence in canned food products including canned fruit, vegetables, meat and baby food.

Tribunal unconditionally approves Epsidon acquisition of Dax Data

The Tribunal has unconditionally approved the merger in which Epsidon Technology Holdings (Pty) Ltd (“Epsidon”) intends to acquire Dax Data (Pty) Ltd (“Dax”). Following the merger, Epsidon will acquire sole control of Dax.

Epsidon forms part of a broader group active in the information technology (“IT”) and information and communications technology (“ICT”) sector. The group supplies hardware and software, software licences and related services. It is involved in the distribution, resale and system integration of IT products. These activities are relevant to the merger.

Dax operates as a value-added software distributor and solutions provider in the IT and ICT sector. It focuses on the distribution, licensing and support of cloud-based software solutions. Its activities in respect of the distribution of IT products are relevant to the transaction.