Varun Beverages Limited (VBL) has announced its decision to acquire 100% of the share capital of Twizza Proprietary Limited, a South African company engaged in the manufacturing and distribution of non-alcoholic beverages. The acquisition will be undertaken through VBL's South African subsidiary, The Beverages Company Proprietary Limited (Bevco). The enterprise value for the acquisition is set at ZAR 2,095 Million, which is equivalent to INR 11,187 Million (at an exchange rate of 1 ZAR = 5.34 INR). This transaction is subject to necessary regulatory approvals, including those from the Competition Commissions of South Africa, Botswana, and Eswatini. Twizza operates three manufacturing facilities in South Africa, located in Cape Town, Queenstown, and Middelburg, and has backward integration facilities at all plants. The company reported a turnover of ZAR 1,689 Million (INR 9,019 Million) for the financial year ended June 30, 2025. In FY 2023-24, Twizza's turnover was ZAR 1,641 Million, and in FY 2022-23, it was ZAR 1,551 Million. Twizza also achieved sales volumes of approximately 71 million 8oz cases in FY 2024-25. The acquisition is expected to be completed on or before June 30, 2026. Twizza, incorporated in 2003, will become a step-down subsidiary of Varun Beverages Limited upon completion of the acquisition. The transaction is not related to party transactions, and the promoter group has no interest in Twizza.
