EDITORIAL: Don’t let PepsiCo fizz you about SA
Political upheaval has driven the valuations of blue-chip SA companies so low that it’s almost an offer too good to refuse for foreign multinationals
25 July 2019 - 05:00
It would be tempting to see PepsiCo’s offer to buy Pioneer Foods — the company that makes staples including Ceres fruit juice, ProNutro and Weet-Bix cereals, Sasko bread and Marmite — as crunching evidence of a new foreign zeal for SA assets
And there’s much to support this view. For one thing, the cold numbers of the deal are impressive: Pioneer, being sold for R24.4bn ($1.7bn), would be PepsiCo’s second-largest deal outside the US since 2010, after its $3.2bn purchase of Israel’s SodaStream last year...
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