PepsiCo offers to buy Pioneer Foods for R23.5bn

In a vote of confidence about South Africa's long-term prospects, New York-based food and beverages giant PepsiCo has made an offer to buy Pioneer Food Group, which makes Sasko breads and Ceres juices, in a deal worth over R25 billion. Meanwhile Zeder Investments which has a near 30% stake in Pioneer has said it fully supports the move. Business Day TV caught up with Zeder CEO, Norman Celliers for more detail.
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