The Competition and Markets Authority (CMA) today cleared the anticipated acquisition by PepsiCo of Pioneer Food Group Limited.
The regulator has launched its inquiry into the £1.2 billion acquisition, announced in July 2019, on 30 January.
Pretoria-based Pioneer Foods exports branded food and beverage products to 80 countries in Africa and beyond. In the UK, the company produces and supplies a range of breakfast cereals and fruit snacks.
PepsiCo agreed to buy Pioneer Foods for about 24.4 billion rand (£1.2 billion) in a bold move into the African market.