Varun Beverages acquires South Africa’s Twizza for Rs 1,119 crore

Varun Beverages Ltd (VBL), the PepsiCo bottler, has acquired a 100% stake in South Africa-based Twizza Proprietary Ltd at an enterprise value of ZAR 2,095 million, or about Rs 1,118.7 crore.

According to a stock exchange filing, the acquisition will be executed through VBL’s South African subsidiary, The Beverages Company Proprietary Ltd, and is subject to regulatory and other customary approvals, including clearances from the Competition Commissions of South Africa, Botswana and Eswatini.

Twizza manufactures and distributes its own portfolio of non-alcoholic beverage brands and operates three backward-integrated facilities located in Cape Town, Queenstown and Middelburg. The plants together have a capacity comprising five preform lines and one closure line.

For the financial year ended June 30, 2025, Twizza reported a turnover of Rs 902 crore, with sales volumes of 71 million cases during the year.

The acquisition strengthens VBL’s push in Africa. In October, the company also signed an exclusive distribution agreement with Carlsberg Breweries for the South African market. Separately, VBL has incorporated a wholly owned subsidiary in Kenya to manufacture, distribute and sell beverages.

On the financial front, VBL reported a 18.6% year-on-year increase in consolidated profit to Rs 745 crore in the third quarter, while revenue from operations rose 2.3% to Rs 6,288 crore.