The antitrust regulator did not find any threats to competition related to the deal. The Competition Tribunal also issued an order approving the merger.
PepsiCo South Africa's subsidiary Pioneer Foods has acquired the remaining half of Futurelife Health it does not own, eight years after buying its initial stake in the maker of nutrient-dense breakfast cereals and snacks.
The South African unit of snack and drinks giant PepsiCo said on Tuesday the Competition Commission recommended the conditional approval of the acquisition earlier this month, with the Competition Tribunal issuing an order to approve the merger on Monday.
It said the transaction is subject to a few administrative conditions’ precedent, which are "standard for a transaction of this nature", adding it was expected to be close and be effective in the first week of July.
✔️ Futurelife Health is a manufacturer of nutrient-dense breakfast cereals and snacks. The company was founded in 2007. Its flagship product Futurelife Smart Food is a nutritional food with an immune supplement made from a patented blend of plant sterols and sterolins.
PepsiCo’s operations in South Africa are organised into five different categories, namely bakeries, grains, snacks (including fruit), foods and beverages.
The value of the transaction has not been disclosed.
Sources: News24
