Key Points
Varun Beverages Ltd (VBL), one of PepsiCos largest franchise bottlers worldwide, announced the acquisition of South Africa-based Beverage Company (Bevco) along with its wholly-owned subsidiaries at an enterprise value of Rs 1,320 crore, on Tuesday...
The proposed transaction is valued at an enterprise level of ZAR 3 billion (Rs 1,320 crore) and will help it expand its geographical footprint in the African market, the company said in a stock exchange filing...
BevCo, which has franchise rights from PepsiCo Inc, in South Africa, Lesotho and Eswatini, manufactures and distributes licensed PepsiCo and own-branded non-alcoholic beverages in South Africa..
The Board of Directors of the Company, at their meeting held today, considered and approved to acquire 100% stake in the business conducted by The Beverage Company (Proprietary) Ltd, South Africa along-with its wholly-owned subsidiaries (Bevco) with an option to accept minority co-investment from large equity fund subject to regulatory and other approvals, VBL said in a filing...
"The rising affluence of South African households has resulted in urbanization, coupled with longer workdays and emerging interest from female consumers, which has contributed to the growth in the industry," VBL further announced in an investor presentation, following the acquisition announcement...
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