Daily Archives: July 19, 2019

PepsiCo acquires South African juice maker Pioneer Foods in an expansion drive into Africa

PepsiCo, Inc, U.S.-based food and beverage giant has agreed to acquire Pioneer Foods of South Africa in a deal valued at US$1.7bn, both companies said on Friday in South Africa.

The acquisition gives PepsiCo a foothold for expansion into the rest of Africa. PepsiCo will gain brands and manufacturing facilities in Nigeria, Kenya, and South Africa.

AB InBev sells Australia unit following failed IPO

AB InBev announced on Friday the sale of its Australian business unit, Carlton & United Breweries to Japanese brewer, Asahi for US$11.3bn.

The sale follows AB InBev’s failed Initial Public Offering (IPO) of its Asian business unit, Budweiser Brewing Co APAC due to weak investor demand.