Standard Bank Business and Commercial Banking’s Corporate Finance Advisory team is proud to confirm the successful completion of the of R2.1 billion sale of South African non-alcoholic beverages manufacturer, Twizza Proprietary Limited (“Twizza”) to The Beverage Company Proprietary Limited (“Bevco”), a wholly-owned subsidiary of India-based Varun Beverages Limited (“Varun”) for an amount of R2.1 billion.
This follows the receipt of all required regulatory approvals, marking the formal conclusion of the transaction and representing a significant milestone and a landmark transaction in South Africa’s fast‑moving consumer goods (FMCG) sector.
Twizza is a leading South African soft drink manufacturer that produces and distributes a range of affordable, high-quality non-alcoholic beverages, including carbonated soft drinks, energy drinks, functional drinks and mixers.
Founded in 2003 in Queenstown (Komani), Eastern Cape by entrepreneur Ken Clark, the business was built on a clear ambition: to provide accessible, great-tasting refreshments to everyday South Africans, particularly in under-served markets. Over time, Twizza has grown into a successful family-owned business, reflecting the strength of founder-led enterprises in the consumer economy. Today, Twizza operates three internationally accredited manufacturing and primary distribution facilities in Queenstown, Middelburg and Cape Town, supported by additional revenue streams including contract manufacturing, packing and distribution. Its products are available in South Africa, Lesotho, Eswatini, Botswana and Namibia. The acquisition by Varun brings Twizza into one of the world’s largest PepsiCo franchise bottling networks.
Headquartered in India, Varun manufactures, bottles, distributes and sells a wide range of beverages under PepsiCo trademarks and operates across multiple markets in Asia and Africa, supported by scaled manufacturing capabilities and an extensive distribution footprint.
“The acquisition by Varun marks the next phase of Twizza’s growth journey”, says Lisle Clark, the Chief Executive Officer of Twizza.
“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. 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.”
“This transaction affirms the strength of our advisory capability and our ability to support clients in structuring exits at the right time”, says Raven Moodley, Head of Corporate Finance Advisory within Business & Commercial Banking (BCB) at Standard Bank South Africa. “It reflects the power of timing, performance and sector dynamics in unlocking meaningful shareholder value.”
Standard Bank’s BCB Corporate Finance Advisory team provides end-to-end advisory services across mergers and acquisitions, capital structuring and strategic transactions, including B-BBEE transactions. Drawing on deep sector expertise, a strong African footprint and access to global investor networks, the team supports clients in unlocking value, navigating complex transactions and executing outcomes aligned to their long-term growth ambitions.
Leveraging this capability, the team ran a competitive process to optimise value for shareholders, resulting in a premium outcome for Twizza’s founding shareholder.
The sale of Twizza was executed against a backdrop of strong company performance and favourable market conditions, with sector consolidation driving strategic interest from both local and international bidders.
Beyond the transaction, the deal highlights continued investor confidence in South Africa’s consumer market, particularly in scalable businesses serving the affordable segment – in line with broader insights from Standard Bank’s Township Informal Economy Report (October 2025).
As a trusted partner for growth, Standard Bank continues to enable market access for its clients, supporting them as they start, manage and grow into sustainable enterprises with the ability to compete and scale in global markets.
The successful conclusion of the transaction further demonstrates Standard Bank’s role in connecting African businesses to global capital and strategic partners, while supporting clients in achieving optimal outcomes aligned to their long-term growth and succession objectives.
Wooden Man
Nthato Motlana – Dr. Nthato Motlana is ‘the renaissance man’ of South Africa, with successful careers in politics, medicine and business. He was the founder of NAIL and a mentor to many of the top business leaders in South Africa today. He is considered by many to be the father of economic empowerment in South Africa.