Opinion / Editorials 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 BL PREMIUM

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.