Daily Archives: July 19, 2019

PepsiCo Targets African Growth With Offer To Acquire Pioneer Foods

PURCHASE, New York and JOHANNESBURG, July 19, 2019 /PRNewswire/ — PepsiCo, Inc. (NASDAQ: PEP) (“PepsiCo”) today announced that it has entered into an agreement to acquire all the outstanding shares of Pioneer Foods Group Ltd. (JSE: PFG) (“Pioneer Foods”) for R110.00 per share in cash (approximately US $1.7 billion), which represents a 56% premium to the 30-day volume weighted average price prior to the cautionary announcement on July 15, 2019.

Tertius Carstens, CEO of Pioneer Foods,and Eugene Willemsen, CEO, PepsiCo Sub-Saharan Africa

Pioneer Foods has a robust, locally relevant product portfolio that complements PepsiCo’s current lineup, with strong positions in cereals, juices, and other African nutritional food staples, including well-known, scaled brands like Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko, and White Star. At the same time, this acquisition will help PepsiCo gain a solid beachhead for expansion into Sub-Saharan Africa by boosting the company’s manufacturing and go-to-market capabilities, enabling scale and distribution. Finally, this transaction brings together two likeminded companies, with both Pioneer Foods and PepsiCo aligned around a vision for building a more sustainable future and investing in communities. With Pioneer Foods, PepsiCo adds an extraordinary team of associates who will be instrumental to growth across the continent.

“As we look to accelerate our growth in key markets around the world and achieve our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose, we are absolutely thrilled to join forces with Pioneer Foods, one of South Africa’s leading food and beverage companies,” said PepsiCo Chairman and CEO, Ramon Laguarta. “Pioneer Foods represents a differentiated opportunity for PepsiCo and allows us to immediately scale our business in Africa. Pioneer Foods forms an important part of our strategy to not only expand in South Africa, but further into sub-Saharan Africa as well. Our businesses are highly complementary, and we look forward to working with the Pioneer Foods team to successfully build and implement a shared vision in the region.”

This transaction creates a leading food and beverage company in Africa led from South Africa, with a commitment to supporting the broad socioeconomic imperatives of employment, talent development, and benefiting local suppliers. It will enable PepsiCo to expand its Sustainable Farming Program in Africa and work with local farmers in Pioneer Foods’ communities—including women and rural smallholders—to help boost yields, improve livelihoods, and preserve precious natural resources. PepsiCo is keenly aware of the importance of economic transformation through Broad-Based Black Economic Empowerment (“BEE”) and intends to support Pioneer Foods’ BEE program.

“Today’s announcement marks a very exciting milestone for Pioneer Foods and our people, and highlights the strength of what we have created,” said Tertius Carstens, CEO of Pioneer Foods. “As part of PepsiCo, we will have greater scale to expand our leading brands, greater capital to invest in local agriculture and people, greater access to leading global capabilities and a partner committed to taking our company to even greater heights.”

As part of this transaction and PepsiCo’s goal to become faster and more locally focused, the company will create a new operating sector for Sub-Saharan Africa (“SSA”). PepsiCo SSA will be led by Eugene Willemsen, who most recently served as Executive Vice President of Global Categories & Franchise Management. Willemsen, who has been with PepsiCo for nearly 25 years, has extensive experience in growth markets, having previously led the company’s businesses in Turkey and South East Europe. This new structure will not impact PepsiCo’s reporting structure, and PepsiCo SSA will remain part of Europe Sub-Saharan Africa (“ESSA”) from a financial reporting perspective.

The acquisition, valued at approximately US $1.7 billion, which implies approximately 11x FY2020E consensus EBITDA, will be funded through a combination of debt and cash, and has been unanimously approved by the Boards of Directors of both companies. The transaction is subject to a Pioneer Foods shareholder vote, certain regulatory approvals, and other customary conditions, and closing is expected by Q1 calendar year 2020.

UBS Investment Bank, J.P. Morgan and Centerview acted as financial advisors to PepsiCo. Bowmans acted as the South African legal counsel to PepsiCo. PSG Capital acted as corporate and transaction advisor to Pioneer Foods and Webber Wentzel acted as South African legal counsel to Pioneer Foods.

PepsiCo logo

About PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $64 billion in net revenue in 2018, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker and Tropicana. PepsiCo’s product portfolio includes a wide range of enjoyable foods and beverages, including 22 brands that generate more than $1 billion each in estimated annual retail sales.

Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. “Winning with Purpose” reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of the business.  For more information, visit www.pepsico.com

About Pioneer Foods

Pioneer Foods is one of the largest South African producers and distributors of a range of branded food and beverage products and posted revenue of R20.2 billion in 2018. For shoppers around the world, Pioneer Foods is the food and beverage company that develops and delivers products that help them and their families realise their full potential and live better lives through the company’s quest and purpose to consistently establish new and enhanced ways of producing, distributing, marketing and selling products.

The Group operates mainly across South Africa and exports to more than 80 countries across the globe inclusive of a number of countries in Africa.  Through its established joint ventures initiatives the Group also operates in Namibia, Botswana, Kenya and Nigeria.  In South Africa the Group operates a number of world-class production facilities producing a range of products that includes some of the most recognizable and best loved brand names in South Africa, including the following brands: Weet-Bix, Liqui-Fruit, Ceres, Sasko, Safari, Spekko and White Star.

Forward Looking Statements

Statements in this communication that are “forward-looking statements” are based on currently available information, operating plans and projections about future events and trends. Terminology such as “estimate,” “expect,” “may,” “plan,” “position,” “will” or similar statements or variations of such words and other similar expressions are intended to identify forward-looking statements, although not all forward looking statements contain such terms. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in such forward looking statements. Such risks and uncertainties include, but are not limited to: changes in demand for PepsiCo’s products, as a result of changes in consumer preferences or otherwise; changes in laws related to the use or disposal of plastics or other packaging of PepsiCo’s products; changes in, or failure to comply with, applicable laws and regulations; imposition or proposed imposition of new or increased taxes aimed at PepsiCo’s products; imposition of labeling or warning requirements on PepsiCo’s products; PepsiCo’s ability to compete effectively; political conditions, civil unrest or other developments and risks in the markets where PepsiCo’s products are made, manufactured, distributed or sold; PepsiCo’s ability to grow its business in developing and emerging markets; uncertain or unfavorable economic conditions in the countries in which PepsiCo operates; failure to successfully complete, integrate or manage acquisitions and joint ventures into PepsiCo’s existing operations or to complete or manage divestitures or refranchisings; changes in estimates and underlying assumptions regarding future performance that could result in an impairment charge; increase in income tax rates, changes in income tax laws, including as a result of enactment and implementation of the Switzerland Federal Act on Tax Reform and AHV Financing, or disagreements with tax authorities; PepsiCo’s ability to recruit, hire or retain key employees or a highly skilled and diverse workforce; loss of, or a significant reduction in sales to, any key customer; disruption to the retail landscape, including rapid growth in hard discounters and the e-commerce channel; climate change or water scarcity, or legal, regulatory or market measures to address climate change or water scarcity; other factors that may adversely affect the price of PepsiCo’s publicly traded securities and financial performance; and risks related to the proposed acquisition, including the inability to satisfy the conditions to the closing of the proposed acquisition and risks that the proposed acquisition disrupts current plans and operations of Pioneer Foods and the potential difficulties in employee retention as a result of the proposed transaction.

For additional information on these and other factors that could cause PepsiCo’s actual results to materially differ from those set forth herein, please see PepsiCo’s filings with the Securities and Exchange Commission, including its most recent annual report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. PepsiCo undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

Contacts: Investors Media
Jamie Caulfield Carrie Ratner
Investor Relations Corporate Communications
914-253-3035 914-253-3817
investor@pepsico.com carrie.ratner@pepsico.com

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L’African Bicycle Contribution Foundation fait don de 85 vélos en bambou à Ningo-Prampram (région du Grand Accra), portant ainsi le total à 500 vélos offerts dans tout le Ghana

ACCRA, Ghana, 19 juillet 2019 /PRNewswire/ — L’African Bicycle Contribution Foundation (ABCF), organisation à but non lucratif fondée par des Afro-Américains fin 2016, a annoncé aujourd’hui la distribution de 85 vélos en bambou à des élèves du district de Ningo-Prampram, dans la région du Grand Accra (Ghana). La cérémonie a eu lieu le 17 juillet au golf d’Achimota à Accra, la capitale du Ghana.

Découvrez le communiqué de presse multicanal interactif ici : https://www.multivu.com/players/English/8570151-abcf-ghana-bamboo-bicycles/

Selon le président de l’ABCF, A. Bruce Crawley, ces bicyclettes, fabriquées à Kumasi (Ghana) par la Ghana Bamboo Bikes Initiative (GBBI) présidée par Mme Bernice Dapaah, portent à 500 le nombre total de vélos en bambou distribués à travers le pays depuis 2016.

Le district essentiellement rural (à 58,3 %) de Ningo-Prampram se situe à 45 minutes en voiture d’Accra. Le fait que, selon les services statistiques du Ghana, 27 % de la population n’ont jamais fréquenté l’école présente un intérêt particulier pour ABCF.

Alors que Ningo-Prampram a été choisi comme site du nouvel aéroport international ghanéen, 33,7 % de sa population totale et 43,5 % de ses résidents ruraux sont impliqués dans l’agriculture.

Selon la Banque mondiale, les enfants des régions rurales d’Afrique courent un risque 43 % plus élevé que les enfants citadins de quitter l’école ou de ne jamais la fréquenter. En 2017, le service statistique du Ghana indiquait que si 8 % seulement des enfants citadins n’avaient reçu aucune éducation, ce chiffre atteignait près de 25 % pour les enfants en milieu rural.

L’article « Dropout Issue and Economic Implications: Evidence in Rural Ghana » (Problèmes du décrochage scolaire et conséquences économiques : observation dans le Ghana rural) cite la pauvreté et l’éloignement de l’école parmi les facteurs déterminants du phénomène dans le pays.

Selon Patricia Marshall Harris, directrice exécutive de l’ABCF, la fondation estime que l’accès aux vélos dans le Ghana rural peut jouer un rôle clé dans la réduction du décrochage scolaire et la promesse d’un avenir professionnel réussi.

Elle ajoute qu’une étude du World Bike Relief fait état d’une augmentation de 65 à 90 % du taux d’assiduité des élèves africains, une fois que des vélos ont été mis à leur disposition pour leur trajet quotidien. En outre, l’absentéisme a baissé de 27 % et le temps de trajet total a été réduit d’un tiers. On note également une augmentation de 66 % de la ponctualité.

Ont participé à la cérémonie de distribution des vélos à Ningo-Prampram par l’ABCF :

-Prière d’ouverture : Amanor Miriam Teiko, élève

-Présentation des dignitaires : Raymond Akadi, modérateur

-Discours de bienvenue de la présidente : Hon. Elizabeth K. T. Sackey, sous-ministre de la région du Grand Accra

-Remarques : A. Bruce Crawley, président de l’ABCF; Patricia Marshall Harris, directrice exécutive de l’ABCF

-Remarques : Mme Beatrix Ollenu, directrice de l’enseignement, académie de Ningo-Prampram

-Remarques : Mme Bernice Dapaah, PDG de la Ghana Bamboo Bikes Initiative

-Présentation des vélos

-Remerciement : M. Peter Djan, responsable du lycée de Prampram

-Remarques de clôture : M. Daniel Lawer Agudey, responsable du lycée de Ningo

-Prière de clôture : David Adjei Adjetey, élève

Depuis la fin de l’année 2016, l’ABCF a distribué ses vélos en bambou dans 13 communautés rurales du Ghana, dont Brong Ahafo, Kumbungu, Sunyani West, Kagara, Koforidua, Nabdam, Ejisu, Kumasi, Accra, Dormaa, Amasu et Drobonso.

#HELPGHANAGROW

Pour en savoir plus, veuillez contacter A. Bruce Crawley, 267-243-2500, ou abcrawley@m3mpr.com

African Bicycle Contribution Foundation Donates 85 Free Bamboo Bicycles in Ningo-Prampram, Greater Accra, for a Total of 500, Ghana-Wide

ACCRA, Ghana, July 18, 2019 /PRNewswire/ — The African Bicycle Contribution Foundation (ABCF), a 501(c)3 organization founded by African Americans in late 2016, today announced the distribution of 85 free bamboo bikes to students from the Ningo-Prampram District, of the Greater Accra Region of Ghana. The event was held, on July 17, at the Achimota Golf Club, in Ghana’s capital city, Accra.

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8570151-abcf-ghana-bamboo-bicycles/

According to ABCF chairman A. Bruce Crawley, the bicycles, manufactured in Kumasi, Ghana, by CEO Bernice Dapaah’s Ghana Bamboo Bikes Initiative (GBBI), bring the ABCF total of bamboo bikes distributed to 500, across the country, since 2016.

The Ningo-Prampram District is located within a 45-minute drive of Accra, and is a predominantly rural (58.3.%) jurisdiction. Of special interest to ABCF, the Ghana Statistical Service has reported that 27 percent of the population has never attended school.

Although Ningo-Prampram has been designated as a location for a new Ghanaian International Airport, 33.7 percent of its residents, overall, and 43.5 percent of its rural residents, are engaged in agriculture.

According to the World Bank, children in rural regions of Africa are at 43 percent higher risk than urban children for dropping out of, or never attending, school. Indeed, the Ghana Statistical Service, in 2014, reported that while only 8 percent of Ghana’s urban children had no education, that figure climbs to nearly 25 percent for rural children.

In the “Dropout Issue and Economic Implications: Evidence in Rural Ghana,” poverty and “long distances to school” were found to be major contributors to the school dropout phenomenon, in the country.

According to ABCF Executive Director Patricia Marshall Harris, the foundation believes that access to bicycles in rural Ghana can play a significant role in reducing dropout rates and preparing students for successful future careers.

She added that a World Bike Relief study has cited attendance rate increases from 65 percent to 90 percent for African students, once they have received access to bicycles, for their daily commute. In addition, their school absences were decreased by 27 percent, and their overall commute time was reduced by one-third, with a 66 percent increase in punctuality.

Program participants for ABCF’s Ningo-Prampram bicycle contribution event were as follows:

-Opening Prayer: Amanor Miriam Teiko, Student

-Introduction of Dignitaries: Raymond Akadi, moderator

-Chairperson’s Welcome Address: Hon. Elizabeth K. T. Sackey, Deputy Regional Minister, Greater Accra

-Remarks: Bruce Crawley Chairman, ABCF; Patricia Marshall Harris, Executive Director, ABCF

-Remarks: Ms. Beatrix Ollenu, Director of Education, Ningo Prampram School District

-Remarks: Ms Bernice Dapaah, CEO, Ghana Bamboo Bikes Initiative

-Presentation of Bicycles

-Acknowledgement: Mr Peter Djan, Head teacher, Prampram Senior High School

-Closing Remarks: Mr. Daniel Lawer Agudey, head teacher, Ningo Senior High School

-Closing Prayer: David Adjei Adjetey, Student

Since late 2016, ABCF has distributed its bamboo bicycles in 13 rural locations across Ghana, including in Brong Ahafo, Kumbungu, Sunyani West, Kagara, Koforidua, Nabdam, Ejisu, Kumasi, Accra, Dormaa, Amasu and Drobonso.

#HELPGHANAGROW

For additional information, please contact A.Bruce Crawley, 267-243-2500, or abcrawley@m3mpr.com

Avec Huobi & CASHU, des millions de personnes en Afrique du Nord et au Moyen-Orient pourront acheter des cryptomonnaies facilement et sans effort

Le partenariat de Huobi avec le fournisseur régional de paiements en ligne CASHU met les cryptomonnaies à la portée de millions d’utilisateurs mal desservis.

DUBAÏ, Émirats arabes unis, 18 juillet 2019 /PRNewswire/ — Grâce à Huobi et à CASHU, le géant des paiements en ligne de la région MENA, plusieurs millions de personnes résidant dans les régions souvent mal servies d’Afrique du Nord et du Moyen-Orient, peuvent accéder aux cryptomonnaies aussi facilement qu’ils souscrivent un abonnement Netflix ou paient une facture.

Huobi partners with CASHU to make cryptocurrency transactions effortless in MENA

Grâce à leur nouveau partenariat, près de 2,3 millions d’utilisateurs de CASHU peuvent désormais acheter et vendre les monnaies suivantes : Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH) et EOS (EOS), directement depuis l’application mobile CASHU. Les utilisateurs n’ont pas besoin d’avoir accès à un compte bancaire et peuvent même payer dans la devise locale. Les utilisateurs de l’application mobile CASHU peuvent effectuer des transactions en cryptomonnaie aussi facilement et sans effort que s’ils payaient une facture ou souscrivaient des services en ligne.

« Un volet essentiel de la mission de Huobi a toujours été de faciliter l’accès aux richesses mondiales. C’est la raison pour laquelle nous sommes ravis d’entreprendre cette démarche avec CASHU pour nous rapprocher de notre objectif », a déclaré Livio Weng, PDG de Huobi Global.

Le partenariat avec CASHU a été piloté et géré par Huobi MENA, la filiale de Huobi basée à Dubaï pour le Moyen-Orient, l’Afrique et la Turquie. « Le partenariat entre Huobi et CASHU est un modèle commercial unique qui permet aux millions d’utilisateurs de CASHU d’échanger des actifs numériques virtuels via une simple application mobile. Ce modèle commercial unique permet même à la population non bancarisée de réaliser des transactions en cryptomonnaie », a expliqué Mohit Davar, co-fondateur de Huobi MENA. « Ce partenariat et ce modèle commercial nous ont conquis, a-t-il ajouté. Nous allons nous efforcer de le reproduire avec d’autres partenaires dans d’autres pays. »

Thaer M. Suleiman, PDG de CASHU, a également commenté le nouveau partenariat. « Nous sommes ravis de pouvoir, par l’entremise de ce partenariat avec Huobi, fournir à des millions d’utilisateurs de la région MENA la possibilité de réaliser des transactions en cryptomonnaie de la manière la plus simple qui soit. Nous espérons que le fait de proposer à une région jeune, dynamique et en plein essor la possibilité de réaliser des échanges en cryptomonnaie constituera une expérience fructueuse. »

À propos de CASHU et du partenariat :

CASHU sert de moyen de paiement à près de 2,3 millions d’utilisateurs et à plus de 75 000 fournisseurs répartis dans les régions du Moyen-Orient et de l’Afrique du Nord, ainsi qu’à 7 000 marchands et prestataires de services en ligne dans le monde. CASHU utilise des systèmes sophistiqués de prévention de la fraude, de connaissance de la clientèle (Know Your Customer – KYC) et de lutte contre le blanchiment d’argent (AML) qui répondent à des normes internationales et réduisent les risques associés aux paiements en ligne pour les acheteurs et les commerçants.

CASHU a été conçu de A à Z pour répondre aux besoins des utilisateurs qui n’ont pas accès à un compte bancaire. Les utilisateurs peuvent effectuer des paiements en monnaie locale auprès des commerçants locaux utilisant CASHU afin de créditer leur compte. En utilisant ce même solde, les clients peuvent acheter des cryptomonnaies instantanément. De plus, les clients qui souhaitent posséder physiquement des cryptomonnaies peuvent créer un compte directement auprès de Huobi et échanger plus de 400 cryptomonnaies.

CASHU facture aux utilisateurs des frais de transaction modestes et transparents de 2 % pour l’achat et la vente de cryptomonnaies dans la devise locale, ce qui constitue un tarif plutôt avantageux dans une région où les majorations en devise locale sont généralement beaucoup plus élevées.

« Nous avons constaté que les cryptomonnaies suscitaient un très vif intérêt dans toute la région MENA, mais également que les utilisateurs, faute de disposer d’autre chose que des monnaies fiduciaires locales, avaient des difficultés à y accéder, a ajouté M. Davar. Cette initiative devrait en grande partie résoudre ce problème. »

Les représentants des médias qui ont des questions peuvent contacter : media@huobi.com

À propos du groupe Huobi :

Constitué de nombreuses entreprises en amont et en aval, le groupe Huobi est l’un des leaders mondiaux de la chaîne de blocs. Le Groupe Huobi a cumulé un chiffre d’affaires de plus de 1 000 milliards de dollars US depuis sa création en 2013. Il fournit fièrement à des millions d’utilisateurs dans plus de 130 pays des services pratiques, sûrs et sécurisés d’échange de cryptomonnaies et de gestion d’actifs. Pour obtenir de plus amples renseignements, consultez le site www.hbg.com

Pour de plus amples renseignements, veuillez contacter :
Jiayi Li
+65-9229-5769
media@huobi.com

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