The acquisition of Ma Baker comes four weeks after its R200m purchase of Durban-based instant food producer Pakco.
Rhodes Food is already major player in the pie market, owning the Magpie and Saint Pie brands, and also supplying the pies sold by Woolworths and Corner Bakery.
"Ma Baker was founded in 1987 in Pietermaritzburg. It has grown rapidly since inception and today operates manufacturing plants in Pinetown and Pietermaritzburg," Rhodes Foods said in the statement.
"Its products are sold and distributed nationally to major retailers, independents and convenience stores through its distribution centres in Johannesburg, Bloemfontein, Port Elizabeth and Cape Town. Its well-established Ma Baker brand is market leader in KwaZulu-Natal."
Besides helping it grow its share of the pie market, the group said acquiring Ma Baker complemented its pastry division, including Alibaba Foods and General Mills, which it acquired over the past year.
The deal is subject to satisfactory due diligence and competition authority approval.
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