South Africa: KWV acquires Red Heart Rum from Pernod Ricard

Wine and spirits group KWV has announced the acquisition of Red Heart Rum from spirits major Pernod Ricard for an undisclosed sum.

This acquisition marks KWV’s entry into the rum category, diversifying a spirits portfolio that already features Cruxland Gin, Wild Africa Cream and Ponchos Tequila.

Commenting on the acquisition, KWV CEO John Loomes said: “We are thrilled about the addition of Red Heart Rum to our portfolio. This acquisition strengthens our presence in the South African liquor market and is a key component of our strategic growth journey”.

“This acquisition is a significant step forward for KWV, and we are confident it will drive our continued success”, he added.

Founded in 1918, KWV is known for brands such as KWV Brandy, Roodeberg, Laborie, and the KWV Classic Collection. It runs three distilleries, a packing plant, and manages a wine cellar.

The transaction is scheduled to be completed on 22nd August, following approval from the competition commission.

Source: Retail Brief Africa / Global Drinks Intel