Indian billionaire Ravi Jaipuria’s Varun Beverages finally acquires South Africa’s Twizza in $125 million deal

Varun Beverages Ltd., controlled by Indian billionaire Ravi Jaipuria, has completed its acquisition of South Africa’s Twizza in a deal valued at $125 million, strengthening its expansion across Africa’s fast-growing soft drinks market.

• Varun Beverages Ltd. has completed the $125 million acquisition of South Africa’s Twizza, following all necessary regulatory approvals.
• The deal gives Varun control of Twizza’s manufacturing facilities and distribution network across Southern Africa, integrating it into its African portfolio.
• Varun, PepsiCo’s largest bottling partner outside the US, is focusing on African markets for growth as its Indian sales face weather-related challenges.
• Twizza will now operate under BevCo, Varun’s South African subsidiary, and founder Ken Clark and his family no longer own the company.

South Africa’s Standard Bank confirmed that the R2.1 billion transaction has closed after securing all required regulatory approvals, transferring ownership of the beverage producer to The Beverage Company (BevCo), Varun’s South African subsidiary.

The completion marks the final stage of a deal first announced in December 2025, when Varun Beverages approved the all-cash acquisition as part of a broader strategy to deepen its presence across the continent.

Varun Beverages, PepsiCo’s largest bottling partner outside the United States, has increasingly relied on African markets to drive growth, as domestic volumes in India slowed due to weather-related disruptions.

International volumes, largely driven by Africa, have supported revenue expansion and margins.

From proposal to completion

At the time of the announcement, the acquisition was expected to close by June 2026, subject to regulatory approvals in South Africa, Botswana and Eswatini.

The deal gives Varun control of Twizza’s manufacturing facilities in Cape Town, Middelburg and Komani, along with its established distribution network across Southern Africa.

With the transaction now complete, Twizza will operate under BevCo and integrate into Varun’s wider African footprint, which spans Morocco, Zambia, Zimbabwe, the Democratic Republic of Congo and South Africa.

A growing regional player

Founded in 2003 by entrepreneur Ken Clark, Twizza has grown from a regional operation into a nationally recognised beverage company focused on affordable soft drinks.

The company produces a range of non-alcoholic beverages, including carbonated drinks, energy drinks and functional beverages, with exports to markets such as Lesotho, Eswatini, Botswana and Namibia.

For the financial year ending June 2025, Twizza reported revenue of R1.689 billion ($113 million) and sales volumes of about 71 million cases, highlighting its scale within South Africa’s beverage sector.

Selling shares to BevCo means founder Ken Clark and his family will no longer retain ownership of the company.

“From our beginnings in Queenstown to becoming a recognised player in South Africa’s beverage market, our focus has always been on delivering affordable, quality products to our customers,” Clark said.

“Under Bevco’s ownership, a wholly-owned subsidiary of Varun, the business is well positioned to scale further, access new capabilities and continue serving consumers with the same commitment, while unlocking value for shareholders.”