SA’s oldest company delivers 163% share price surge after relisting in 2023

Premier Group, South Africa’s oldest company with roots dating back to 1824, has delivered a 163% increase in its share price since it rejoined the JSE on March 24, 2023, after an 18-year absence.

When Premier Group returned to the bourse, its shares were priced at R53.82. As of mid-2025, the share price stands at approximately R141.94, more than doubling investor returns over this period. This performance places Premier among the top-performing stocks on the JSE since its re-listing. 

Premier dates its life back to 1824, which precedes other South African historical milestones such as the discovery of the Eureka Diamond in Kimberley in 1867. It is also older than companies such as FNB, Old Mutual, and Standard Bank.

The company, which owns a portfolio of iconic South African brands including Snowflake, Blue Ribbon, BB Bakeries, Iwisa, Nyala, Manhattan, Mister Sweet, and Lil-lets, has expanded significantly in recent years. Premier employs over 8,600 staff and operates 13 bakeries, seven wheat mills, three maize mills, and multiple manufacturing plants across South Africa and neighbouring countries. 

Premier’s growth strategy includes acquisitions in the Eastern and Western Cape, as well as expansions into Eswatini and Mozambique, where it has added bakery, milling, beverage, biscuit, animal feed, and pasta operations to its portfolio. 

Billionaire investor Christo Wiese, through his investment vehicle Titan, currently holds about 46.7% of Premier Group, while Brait, another entity linked to Wiese, owns an additional 30%. Together, these investment houses control 76.7% of the company’s shares.

Premier Group’s history stretches back to its origins as Attwell’s Bakery in 1824, followed by the establishment of Premier Milling Company in 1913 and the acquisition of South African Milling Company in 1964. Since 2011, following a takeover by Brait, the company has invested over R6 billion in modernising its facilities and expanding its footprint across Southern Africa. 

The company also maintains a Lil-lets sales office in the UK, exporting products to markets including the Middle East, Ireland, the US, and other European Union countries.

IOL