CMA clears PepsiCo’s acquisition of Pioneer Food Group

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.