In a win-win for broad-based black economic empowerment (B-BBEE) and foreign direct investment, Pepsico, which is buying SA’s branded consumer foods maker Pioneer Foods, has reached agreement with trade & industry minister Ebrahim Patel on how the $1.7bn (R26bn) tie-up is to go ahead.

Pepsico, the US-based snack-and-beverage giant, is in the midst of buying the maker of Spekko rice, Ceres juices and Weet-Bix breakfast cereals in one of the company’s biggest investments yet outside the US.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now