Varun Beverages completes US$125.2M acquisition of South Africa’s Twizza
Varun Beverages acquires Twizza for R2.1bn, expanding its PepsiCo-linked bottling footprint in Africa and strengthening presence in South Africa’s soft drinks market.
SOUTH AFRICA – The Beverage Company Proprietary Limited (Bevco), a wholly owned subsidiary of India-based Varun Beverages, has completed the 100% acquisition of South Africa’s Twizza Proprietary Limited for R2.1 billion ($125.21 million).
The transaction, acquired from Standard Bank Business and Commercial Banking, follows an earlier announcement in December 2025 when Varun Beverages confirmed board approval for the deal.
The completion marks a significant milestone in South Africa’s fast-moving consumer goods sector after all regulatory approvals were secured.
Standard Bank said the deal represents a landmark transaction in the FMCG industry, concluding the sale process and transferring full ownership of Twizza to Bevco.
Twizza is a South African soft drinks manufacturer producing a range of affordable non-alcoholic beverages, including carbonated soft drinks, energy drinks, functional beverages, and mixers.
Founded in 2003 in Queenstown (Komani), Eastern Cape, by entrepreneur Ken Clark, the company has grown into a recognized player in the regional beverage market.
The business operates three internationally accredited manufacturing and distribution facilities located in Queenstown, Middelburg, and Cape Town. Its products are distributed across South Africa and exported to markets including Lesotho, Eswatini, Botswana, and Namibia.
“The acquisition by Varun brings Twizza into one of the world’s largest PepsiCo franchise bottling networks,” the company said in a statement.
Lisle Clark, Chief Executive Officer of Twizza, described the deal as a pivotal step in the company’s growth strategy. “From our beginnings in Queenstown to becoming a recognised player in South Africa’s beverage market, our focus has always been on delivering affordable, quality products to our customers,” Clark said.
“Under Bevco’s ownership, a wholly-owned subsidiary of Varun, the business is well positioned to scale further, access new capabilities and continue serving consumers with the same commitment, while unlocking value for shareholders,” he added.
In the financial year ending June 2025, Twizza reported sales volumes of 71 million cases and net revenue of R1.689 billion (US$100.7 million).
The acquisition strengthens Varun Beverages’ presence in Africa and expands its footprint within the PepsiCo-linked bottling network, positioning the combined operations for further growth in the region’s competitive beverage market.
In March, Bevco signed an agreement to acquire a 100% equity stake in Crickley Dairy Proprietary Limited, a South Africa-based dairy company.
Under the terms of the deal, Bevco will acquire the entire equity stake in Crickley for an enterprise value of ZAR 238 million (US$14.3M).
Sign up HERE to receive our email newsletters with the latest news and insights from Africa and around the world, and follow us on our WhatsApp channel for updates.
