Varun Beverages Limited has agreed to acquire 100% of Twizza Proprietary Limited, a South African company, for ZAR 2,095 Million (INR 11,187 Million). The acquisition will be executed through Varun Beverages’ subsidiary, The Beverages Company Proprietary Limited (Bevco). Twizza manufactures and distributes its own branded non-alcoholic beverages. The deal is subject to regulatory approvals.
Acquisition of Twizza Proprietary Limited
Varun Beverages Limited has announced its decision to acquire 100% of the share capital of Twizza Proprietary Limited, a company incorporated under the laws of South Africa. The board of directors approved this acquisition at a meeting held on December 21, 2025. The deal will be executed through Varun Beverages’ subsidiary company in South Africa, The Beverages Company Proprietary Limited (“Bevco”).
Deal Value and Structure
The enterprise value of the deal is ZAR 2,095 Million, which is equivalent to INR 11,187 Million (based on an exchange rate of 1 ZAR = 5.34 INR). The consideration will be paid in cash.
About Twizza
Twizza is engaged in the business of manufacturing and distributing its own branded non-alcoholic beverages. Incorporated in 2003, it has manufacturing facilities located in Cape Town, Queenstown, and Middelburg. These facilities include backward integration with a total of 5 preform and 1 closure line. The acquisition will allow BevCo to penetrate deeper into the South African market.
Financial Performance of Twizza
Twizza’s turnover for the financial year ended June 30, 2025, was ZAR 1,689 Million (INR 9,019 Million). Historical turnover figures include:
- FY 2024-25: ZAR 1,689 Million
- FY 2023-24: ZAR 1,641 Million
- FY 2022-23: ZAR 1,551 Million
Timeline and Conditions
The acquisition is expected to be completed on or before June 30, 2026. It is subject to regulatory and other approvals, including approvals from the Competition Commissions of South Africa, Botswana, and Eswatini. Post-acquisition, Twizza will become a step-down subsidiary of Varun Beverages.
Source: BSE