PepsiCo: buys African food company for 1.7 billion dollars
(CercleFinance.com) - PepsiCo has agreed to acquire Pioneer Foods for 1.
7 billion dollars in cash, in a move to expand in South Africa and in Sub-Saharan Africa.
The acquisition will help the US food giant expand into Sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, it said.
Based in Johannesburg, Pioneer Foods makes cereals, juices, and other African nutritional food staples.
The acquisition implies a 56% premium to the 30-day average price of Pioneer, Pepsi said.
Closing is expected by the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
7 billion dollars in cash, in a move to expand in South Africa and in Sub-Saharan Africa.
The acquisition will help the US food giant expand into Sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, it said.
Based in Johannesburg, Pioneer Foods makes cereals, juices, and other African nutritional food staples.
The acquisition implies a 56% premium to the 30-day average price of Pioneer, Pepsi said.
Closing is expected by the first quarter of 2020.
Copyright (c) 2019 CercleFinance.com. All rights reserved.