New Delhi: Varun Beverages Ltd (VBL), the largest bottler of PepsiCo beverages outside the US, has proposed to acquire 100% equity in South Africa–based Twizza Proprietary Limited in a deal valued at about ZAR 2,095 million (around ₹1,120 crore), as it sharpens its focus on expanding in high-growth African markets.
In a regulatory filing on Saturday, VBL said the acquisition will be executed through its South African subsidiary, The Beverages Company Proprietary Limited, and will be subject to regulatory approvals, including clearances from competition authorities in South Africa, Botswana and Eswatini.
Founded in 2003, Twizza manufactures and distributes its own-branded non-alcoholic beverages and operates three production facilities in Cape Town, Queenstown and Middelburg, with a combined annual capacity of around 100 million 8-ounce cases. The company reported sales volumes of 71 million cases and net revenue of ZAR 1,689 million (about ₹902 crore) for the year ended June 2025.
South Africa is the largest soft drinks market in Africa, supported by favourable demographics, high urbanisation and relatively strong per capita consumption. VBL noted that the market is dominated by value or ‘B’ brands, accounting for nearly half of industry volumes, offering scope for growth through portfolio expansion and improved go-to-market strategies.
The proposed acquisition aligns with VBL’s strategy of diversifying geographically and strengthening its presence in emerging markets, while also adding an established local brand portfolio that spans carbonated soft drinks, energy drinks, functional beverages and mixers. The company said the transaction would complement its existing operations in the region and provide a platform for future growth.