The executive team at PSG-controlled agri-business investor Zeder will need to plough their furrows more profitably after cashing in on the sale of the company’s "kingmaker" stake in consumer brands giant Pioneer Foods.

The proposed sale of Pioneer Foods — which makes up around half the portfolio value — to food and beverage icon PepsiCo has gone some way to deflect market frustration at the pedestrian returns notched up by Zeder over the past six years under CEO Norman Celliers.

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