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MarketWatch 07/19/2019 06:55
PepsiCo Inc. said Friday it has reached an agreement to acquire South AFrica's Pioneer Foods in an all-cash deal valued at about $1.7 billion. The company is playing 110 rand ($7.90) per share, equal to a 56% premium over the 30-day volume weighted average price prior to an announcement on July 15. "This acquisition will help PepsiCo gain a solid beachhead for expansion into Sub-Saharan Africa by boosting the company's manufacturing and go-to-market capabilities, enabling scale and distribution," the company said in a statement. Pioneer owns a range of cereals, juices and other African staples, including brands that are popular in Africa including Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko, and White Star. The deal will be funded t.
PR Newswire 07/19/2019 02:38
PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana.
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Food Ingredients First 07/18/2019 20:00
According to a statement from PepsiCo, “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.
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PepsiCo chairman and CEO Ramon Laguarta said: “We are absolutely thrilled to join forces with Pioneer Foods, one of South Africa’s leading food and beverage companies.
More from Food Processing Technology (United Kingdom):
Benzinga 07/12/2019 11:20
As a result, New Age Beverages now owns the licensing and distribution rights to some of the most popular drink brands within the United States.
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Fiji Times (Fiji) 07/09/2019 21:25
But Thibault Turchet, with environmental campaigning group Zero Waste France, said of the Nestle alliance with Ocean Legacy that it would be better for Nestle and other large plastic waste producers to return to bottling drinks in glass and cut down on plastic packaging that is unrecyclable.
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Food Dive 07/08/2019 01:00
Coca-Cola's decision to roll out new Costa products just a few short months after closing the acquisition may have prompted PepsiCo to respond.
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Beverage Industry Blog 07/02/2019 06:58
PepsiCo forms JV to buy Serbian mineral water firm Knjaz Milos PepsiCo is to take control of Serbian mineral water producer Knjaz Miloš through a new joint venture.
More from Beverage Industry Blog:
Drinks Business (UK) 06/27/2019 07:43
Communication consulting group Hopscotch is to acquire a further 35.5% stake in international food and drink PR agency Sopexa, extending its total share in the business to 66%.
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GlobeNewswire 06/27/2019 07:33
In January 2018, Keurig Green Mountain completed the acquisition of soft drink company Dr. Pepper Snapple with an aim of introducing coffee as soda alternative.
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Economic Times (India) 06/26/2019 05:32
The potential stake acquisition is being driven by Coca-Cola’s headquarters in Atlanta, and officials from the beverage maker’s global team are engaged in active talks with the Coffee Day management.
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