Varun Beverages shares moved over 2% higher in early morning trade after the company announced a significant overseas acquisition aimed at strengthening its presence in the African beverages market. The company’s Board of Directors has approved the purchase of 100% share capital of Twizza Proprietary Limited, marking another step in Varun Beverages’ international expansion strategy.
The acquisition will be carried out through Varun Beverages’ South Africa–based subsidiary, The Beverages Company Proprietary Limited (BevCo). The proposed transaction values Twizza at an enterprise value of ZAR 2,095 million, which is approximately INR 11,187 million. Varun Beverages has confirmed that the entire consideration will be paid in cash. Completion of the deal is subject to regulatory and statutory approvals, including clearances from competition authorities in South Africa, Botswana, and Eswatini.
Twizza operates in the non-alcoholic beverages segment and is engaged in the manufacturing and distribution of its own branded products. For the financial year ended June 30, 2025, Twizza reported a turnover of ZAR 1,689 million, translating to around INR 9,019 million. The company has demonstrated consistent revenue growth over the past three financial years, with turnover increasing from ZAR 1,551 million in FY 2022–23 to ZAR 1,641 million in FY 2023–24, before reaching ZAR 1,689 million in FY 2024–25.
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