South Africa: Clover Industries acquires majority stake in Frankie’s Olde Soft Drinks
South African dairy group Clover Industries is entering the soft drinks market with the acquisition of a majority stake in beverage firm Frankie’s Olde Soft Drinks.
According to its website, Frankie’s Olde Soft Drink is a “micro” soft drink business “reproducing some of the favourite soft drink tastes of yesteryear” including Homemade Ginger Beer, Olde Style Root Beer, Original Cream Soda, Cloudy Lemonade and Cinnamon Cola.
Johann Vorster, Clover CEO, commented: “Frankie’s is a much loved brand and a unique concept – consumers identify with its ‘good old fashioned’ values, unique taste and distinctive brand. Our collaboration with Frankie’s allows us to do so measuredly through a manufacturer uniquely positioned between niche and every day soft drinks”.
Mike and Paula Schmidt, Frankie’s co-founders, added: “We are confident that, with access to capital and the financial backing of Clover, Frankie’s will be able to unlock the full potential of our positioning as a distinctive retro brand with unique flavours”.
The acquisition of the 51% stake will lead to the creation of a new business under the name Clover Frankie’s.
Source: Engineering News / Frankie's Soft Drinks