By Standard Bank
Standard Bank Business and Commercial Banking’s Corporate Finance Advisory team has confirmed the completion of the of R2.1 billion (about $123.7 million) sale of South African non-alcoholic beverages manufacturer, Twizza, to The Beverage Company, a wholly-owned subsidiary of India-based Varun.
This follows the receipt of all required regulatory approvals, marking the formal conclusion of the transaction and representing a significant milestone and a landmark transaction in South Africa’s fast‑moving consumer goods (FMCG) sector.
Twizza is a South African soft drink manufacturer that produces and distributes a range of affordable, high-quality non-alcoholic beverages, including carbonated soft drinks, energy drinks, functional drinks and mixers.
Founded in 2003 in Queenstown (Komani), Eastern Cape by entrepreneur Ken Clark, the business was built on a clear ambition: to provide accessible, great-tasting refreshments to everyday South Africans, particularly in under-served markets. Over time, Twizza has grown into a successful family-owned business, reflecting the strength of founder-led enterprises in the consumer economy. Today, Twizza operates three internationally accredited manufacturing and primary distribution facilities in Queenstown, Middelburg and Cape Town, supported by additional revenue streams including contract manufacturing, packing and distribution. Its products are available in South Africa, Lesotho, Eswatini, Botswana and Namibia. The acquisition by Varun brings Twizza into one of the world’s largest PepsiCo franchise bottling networks.
Headquartered in India, Varun manufactures, bottles, distributes and sells a wide range of beverages under PepsiCo trademarks and operates across multiple markets in Asia and Africa, supported by scaled manufacturing capabilities and an extensive distribution footprint.
“The acquisition by Varun marks the next phase of Twizza’s growth journey,” says Lisle Clark, the chief executive officer of Twizza.
“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. 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.
“This transaction affirms the strength of our advisory capability and our ability to support clients in structuring exits at the right time,” says Raven Moodley, head of corporate finance advisory within Business & Commercial Banking (BCB) at Standard Bank South Africa. “It reflects the power of timing, performance and sector dynamics in unlocking meaningful shareholder value.”
Leveraging this capability, the team ran a competitive process to optimise value for shareholders, resulting in a premium outcome for Twizza’s founding shareholder.
The sale of Twizza was executed against a backdrop of strong company performance and favourable market conditions, with sector consolidation driving strategic interest from both local and international bidders.
