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PepsiCo to buy South African company for $1.7B

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PepsiCo entered a deal to buy South Africa’s Pioneer Foods Group for $1.7 billion.

“Pioneer Foods forms an important part of our strategy to not only expand in South Africa, but further into sub-Saharan Africa as well,” PepsiCo Chairman and CEO Ramon Laguarta said.

Pioneer's brands include Weet-Bix cereal, Liqui Fruit juice and Sasko bread.

Read more from Reuters.

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