PepsiCo-owned Pioneer Foods is about to accumulate the remaining 50% stake in South African dietary cereal maker Future Life Health Products.

PepsiCo South Africa introduced the transaction is about to finish by the primary week of July, following a number of extra administrative situations’ approvals which the meals and drinks firm claimed to be “standard for a transaction of this nature.”

Pioneer Foods first acquired the initial 50% of Future Life Health in 2015 and can now purchase Future Life founder Paul Saad’s remaining 50% stake for an undisclosed determine.

Founded in 2007, Future Life’s flagship product is Future Life Smart Food which was developed as a scientifically formulated and nutritionally balanced handy meals which accommodates Moducare.

PepsiCo described Moducare as a each day immune complement constructed from a patented mix of plant sterols and sterolins. Future Life now provides a spread of cereals and breakfast bars.

Riaan Heyl, the CEO of PepsiCo South Africa, stated: “Future Life is an revolutionary model throughout the cereals market, and we consider its product basket will complement our present portfolio. Upon closing of the transaction, we sit up for welcoming the Future Life workers into PepsiCo.

“This will also mean that qualifying employees will be entitled to participate in our employee share ownership scheme, the Bašumi Trust”, he added.

PepsiCo acquired Pioneer Foods in 2020 after lastly being given the inexperienced mild from a UK competitors authority, following the Frito-Lay and Quaker manufacturers proprietor swooping to buy Pioneer Food in July 2019 with a bid value round $1.7bn on the time.