The Competition and Markets Authority (CMA) of the UK has cleared the proposed acquisition of Pioneer Food Group by PepsiCo.

In July 2019, PepsiCo signed an agreement to acquire all outstanding shares of Pioneer Food Group producer for $1.7bn.

based in South Africa, Pioneer Food sells cereals, snacks and juices under various brands, including Weet-Bix, Liqui-Fruit and Ceres.

In January, CMA opened an investigation into the acquisition by Pepsico.

This clearance was the final requirement for the acquisition.

PepsiCo said that the deal will allow them to “gain a solid beachhead for expansion into Sub-Saharan Africa by boosting the company’s manufacturing and go-to-market capabilities.”

The boards of the two companies have unanimously approved the deal.