Ticker PEP

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Price US dollars
As of 14:26 19 Sep 2019
Market cap. US dollars
189,946.84 million
As of 14:26 19 Sep 2019

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Pepsico makes £1.4bn South African push

pepsico bottles
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Pepsico is making a push into Africa by buying South Africa's Pioneer Food group for $1.7bn (£1.4bn).

Pioneer owns well-known brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko, and White Star.

Ramon Laguarta, who took over as chief executive of Pepsico from Indra Nooyi in October, said: "“Pioneer Foods represents a differentiated opportunity for PepsiCo and allows us to immediately scale our business in Africa.

"Pioneer Foods forms an important part of our strategy to not only expand in South Africa, but further into sub-Saharan Africa as well.

Our businesses are highly complementary, and we look forward to working with the Pioneer Foods team to successfully build and implement a shared vision in the region."

Potato farmers want payout from PepsiCo
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PepsiCo boosted by demand for low-sugar products

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Food and beverage maker PepsiCohas reported better-than-expected sales and profits, boosted by increased demand for drinks and snacks low in sugar and sodium.

Sales at its North American division rose 2.2% for the three months ended 23 March 2019, while the Frito-Lay snacks division was up 5.5%.

Net income rose to $1.4bn, compared with $1.3bn in the same period in 2018.

PepsiCo said had tweaked its recipes to stay competitive, introducing Pepsi Zero Sugar, Bare chips, Pure Leaf iced teas and sparkling water.