News Formal

Pioneer Foods receives acquisition offer from PepsiCo subsidiary | IOL Business Report

  • 📰 IOL
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The companies said the transaction was one of PepsiCo’s largest acquisitions outside the United States and a demonstration of its belief in SA’s potential and of its long-term commitment to the country. busrep

JOHANNESBURG - A wholly-owned subsidiary of US multinational food, snack and beverage corporation PepsiCo has given notice of its firm intention to make an offer to acquire the issued ordinary shares of South African packaged goods company Pioneer Foods, the two said on Friday.

"The base price represents a premium of 56.5 percent to the 30-day volume weighted average traded price of Pioneer Foods ordinary shares of R70.31, as at 12 July," the companies said. It said PepsiCo’s existing portfolio, with its broad nutritional offerings, could provide many benefits to both the South African and broader African consumer. Acquiring Pioneer Foods would increase PepsiCo’s presence in a country and region of high growth potential.

PepsiCo brings extensive category knowledge and global capabilities, such as marketing and research and development, which it intends to use to further drive growth in Pioneer Foods’ portfolio and develop products tailored to local consumer preferences.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 46. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pioneer Foods receives acquisition offer from PepsiCo subsidiaryIn a joint statement, the companies said the transaction was one of PepsiCo’s largest acquisitions outside the United States.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

PepsiCo plans to acquire South Africa's Pioneer Foods - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.PepsiCo offered a cash consideration of R110 per Pioneer Foods ordinary share, a 56.5% premium as of July 12, 2019.
Source: SABC News Online - 🏆 32. / 51 Read more »

Pioneer Foods receives acquisition offer from PepsiCo subsidiaryIn a joint statement, the companies said the transaction was one of PepsiCo’s largest acquisitions outside the United States.
Source: TheCitizen_News - 🏆 6. / 75 Read more »

Zimbabwe public worker strike on the cards after pay offer rejected | IOL Business ReportZimbabwe’s public sector workers on Tuesday night rejected the government’s latest pay offer.
Source: IOL - 🏆 46. / 51 Read more »