Browsing: Pioneer Foods Group

PepsiCo buys into South African Pioneer Foods Group

PepsiCo, has announced that it has entered into an agreement to acquire all the outstanding shares of South African based company, Pioneer Foods Group Ltd. for R110.00 per share in cash (approximately US $1.7 billion).

This represents a 56% premium to the 30-day volume-weighted average price prior to the cautionary announcement on July 15, 2019.

Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current lineup, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko, and White Star.

Pioneer Foods is one of the largest South African producers and distributors of a range of branded food and beverage products and posted revenue of R20.2 billion in 2018. The Group operates mainly across South Africa and exports to more than 80 countries across the globe inclusive of a number of countries in