Name change to avoid ‘Premier’ confusion

Branding dispute between Premier Foods and Premier Food and Fishing

PREMIER Food and Fishing, a subsidiary of African Empowerment Equity Investments, will change its name to avoid being confused with Premier Foods. It said it would change its name to Premier Fishing and Brands in October.

Investment group Brait has a majority stake in Premier Foods, whose brands include Iwisa and Blue Ribbon.

The name change comes amid reports that Premier Foods was taking Premier Food and Fishing to court over the company’s name. Premier Foods was concerned that members of the public would not be able to distinguish between the two companies.

Premier Food and Fishing listed in the farming, fishing and plantations sector of the JSE in March, the first company to list on the bourse this year.

It raised R526 million by issuing 117m shares to the public. The capital raised would be used for acquisitions as part of the company’s growth strategy.

The company achieved a solid performance in the six months to the end of February on the back of increased sales volumes in its lobster and squid businesses.

During the period, it had increased revenue by 7% to R182m. Operating profit rose 14% to R25m.

It also improved catch rates and reported better sales volumes.

Owing to the seasonal nature of the fishing industry, the company has a stronger performance during the second half of the year.

Premier Food and Fishing is owned by one of the country’s largest black-owned fishing companies, Premier Fishing South Africa, which has a 65-year track record.

The company said in May that its abalone division would focus on increasing production capacity and efficiency.