Competition Commission Tribunal approves Pioneer Foods-Futurelife merger

Futurelife.co.za

This following careful assessment of the evidence presented by all parties. "We appreciate the thorough process followed by the Competition Commission and the Competition Tribunal and the way in which all parties engaged on this issue," said Phil Roux, Pioneer Foods CEO. "We are delighted with the decision. This now provides the opportunity to optimise the Futurelife brand and Pioneer Foods manufacturing and route-to-market capabilities, and an opportunity to shape a winning brand portfolio in the best interests of consumers, by fast tracking product innovations and developing new product categories.

"Futurelife is the leading brand in the functional food category. I have full confidence in their continued success as an established and trusted brand with its own unique identity, niche positioning and future prospects in a growing category. They have already achieved impressive market share on the strength of their intrinsic quality. We believe the brand's popularity will grow further as the public continues to shift focus to healthy lifestyle choices.

"Innovation is core to our business and Futurelife's approach to innovation is a perfect match for both companies, and importantly, for the consumer," concludes Roux.