Varun Beverages Ltd (VBL), PepsiCo’s largest franchise bottler, on Sunday announced that it will acquire 100 per cent of South Africa-based beverage company Twizza in an all-cash transaction valued at ZAR 2,095 million (about ₹1,118.7 crore).
The acquisition will be executed through VBL’s South African subsidiary, The Beverages Company Proprietary Limited (BevCo), the company said in a regulatory filing. The deal is subject to regulatory and other customary approvals and is expected to be completed on or before June 30, 2026.
Twizza is engaged in the manufacturing and distribution of own-branded non-alcoholic beverages and operates three manufacturing facilities located in Cape Town, Queenstown and Middelburg. The company has a combined annual production capacity of about 100 million cases.
For the financial year ended March 31, 2025, Twizza reported a turnover of ZAR 1,689 million (around ₹901 crore).
VBL said the acquisition would allow BevCo to deepen its penetration in the South African market by leveraging Twizza’s manufacturing footprint. Twizza also has backward integration facilities at all its plants, including five preform lines and one closure line.
Following the completion of the transaction, Twizza will become a step-down subsidiary of Varun Beverages.
The acquisition builds on VBL’s recent expansion in Africa. In March 2024, the company acquired The Beverage Company, South Africa, along with its wholly owned subsidiaries BevCo, strengthening its presence across South Africa, Lesotho and Eswatini, as well as distribution rights in Namibia, Botswana, Mozambique and Madagascar.
In November 2024, VBL also entered into agreements to acquire 100 per cent stakes in PepsiCo bottling operations in Tanzania and Ghana for an equity value of USD 154.5 million and USD 15.06 million, respectively.
Varun Beverages is among the world’s largest PepsiCo franchisees outside the US. In 2024, the company reported revenues of ₹20,007.7 crore and global sales volume of 1,124 million cases.