South Africa: Varun Beverages to acquire Twizza in $54 million deal

Varun Beverages, the India-based bottling partner for PepsiCo, has entered into a binding agreement to acquire a 100% stake in Twizza, a South African carbonated soft drinks manufacturer, for an enterprise value of 1.47 billion ZAR ($54.1 million).

Twizza Beverages, a prominent player in the South African market, operates manufacturing facilities in Queenstown, Middelburg and Cape Town. The company specialises in the production and distribution of carbonated soft drinks (CSD), sparkling water and energy drinks under its own brands. According to Varun Beverages, the acquisition is intended to strengthen its manufacturing footprint and distribution reach across South Africa, complementing its existing operations in the region.

In a statement, Varun Beverages noted: “The acquisition of Twizza will significantly expand our presence in South Africa, a key market for our long-term growth strategy in the African continent. This move allows us to leverage Twizza’s established manufacturing base and wide distribution network to better serve the growing consumer demand in the region”.

This transaction follows Varun Beverages’ recent expansion efforts in the African market, including its acquisition of BevCo.

The deal is subject to regulatory approvals from the South African Competition Commission.

Source: Indian Retailer / Varun Beverages / India Entrepreneur