Varun Beverages to Acquire Twizza for ~$125M

Varun Beverages Ltd, led by Ravi Jaipuria, has agreed to acquire South Africa’s Twizza Proprietary Limited for approximately $125 million. The deal will be executed through Varun’s South African subsidiary, Bevco.

The acquisition gives Bevco control of three Twizza manufacturing plants in Cape Town, Queenstown, and Middelburg, reinforcing Twizza’s backward-integrated non-alcoholic beverage production model. Twizza generated ZAR 1,689 million (about $113 million) in revenue in the year ending June 30, 2025, and sold roughly 71 million 8-ounce cases.

Completion is expected by June 30, 2026, subject to regulatory approvals in South Africa, Botswana, and Eswatini, after which Twizza will operate as a subsidiary of the Indian bottler.