RFG merger nearly doubled Premier's net debt while profits held firm
There's a good reason for Premier's desire to offload the cannery
R21.2bn
Group revenue, FY2026 — up 6.6% year on year
R6.5bn
RFG acquisition value, implemented 30 March 2026
Pre-merger (FY2025 standalone)
Post-merger (FY2026 consolidated)
Despite the near-doubling of net debt, leverage remains conservatively positioned well within targets. With full RFG consolidation, group revenue is projected to surge 35–45% by FY2027, making the increased debt burden look manageable against a materially larger earnings base.
Daily Maverick · Source: Premier FMCG and RFG Holdings supplied data, FY2025–FY2026
