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 through a mix of cash and debt and is expected to close by the first quarter of 2020. Pioneer Food shares climbed more than 30% on the news. PepsiCo was down 0.2% premarket, but has gained 20% in 2019, while the S&P 500 has gained 19%.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Johnny Clegg gave South Africa reason to believeRaymond Joseph writes that Johnny Clegg will be long remembered for his music -- a blending of western and Zulu beats -- and for his contributions to social cohesion in a racially divided South Africa.
Leer más »
Johnny Clegg, Anti-Apartheid Musician in South Africa, Dead at 66Grammy-nominated artist defied racial barriers and united people through music
Leer más »
South Africa army reviews uniform policy, allows women to wear headscarvesThe army says Muslim women will be allowed to wear headscarves with their uniforms as part of an interim agreement while talks continue with the Muslim Judicial Council.
Leer más »
African American duo launch 'Go back to Africa' campaign to take hatred out of slurTwo men who run a company that specializes in curating travel experiences for black people say they are trying to 'flip the phrase on its head and highlight the beauty' of Africa
Leer más »
Beyoncé Drops Breathtaking, Africa-Inspired Music Video for “Spirit”Beyoncé has just dropped the music video for “Spirit,” a vibrant visual feast of gorgeous landscapes, classic clips from the film, and intricate couture and dance.
Leer más »
Durban FilmMart Head Toni Monty: ‘Africa Has Its Own Story to Tell’The Durban Film Festival’s industry program, the Durban FilmMart, celebrates its 10th anniversary as the leading confab for filmmakers from across the continent, with a lively program of panel disc…
Leer más »