Twizza will be joining the portfolio of India’s Varun Beverages via its local subsidiary, BevCo

BevCo has signed an agreement to acquire 100% of Crickley Dairy

Varun Beverages to acquire South Africa’s Twizza and Crickley Dairy

SOUTH AFRICAN soft drink brand Twizza is being acquired by Indian company Varun Beverages Limited through its own local subsidiary, The Beverage Company Proprietary Limited (BevCo).

In an all-cash deal, the company’s South African subsidiary BevCo will acquire 100% of Twizza at an enterprise value of approximately R 2.1 billion, marking the end of a two-decade chapter for one of the Eastern Cape’s most recognisable challenger brands.

“The acquisition will enable BevCo to penetrate deeper in the South Africa market through Twizza’s three manufacturing facilities located at Cape Town, Queenstown and Middelburg,” the company said.

The decision to acquire Twizza was driven by its commercial success and South Africa’s market potential, with the largest market for soft drinks on the continent, according to Varun Beverages. In the last financial year ending June 2025, Twizza achieved sales volumes of 71 million cases, with a net revenue of R1,689 million. Selling shares to BevCo will result in Ken Clark, the current owner and founder, and his family no longer holding ownership over the company. Clark currently holds the position of executive chair at Twizza, with day-to-day operations handled by his son, the current CEO, Lisle Clark. BevCo has also signed an agreement to acquire 100% of Crickley Dairy, reportedly for approximately R238 million, pending approval from the Competition Commission. This deal came about through operational links between the two businesses, making it more practical for the buyer to acquire both.

Twizza CEO Lisle Clark clarified that the Twizza and Crickley transactions were separate transactions. “While they were also owned by the same shareholder, they are separate businesses. Different management teams, different operations, different buildings, different CEOs. While the ultimate shareholder is Varun Beverages, it is being executed via its local subsidiary, BevCo.”

From dairy farm to national brand
Clark says the decision to sell was diffi cult but necessary. Having recently turned 70, and with his sons involved in the business, he says the timing felt right to step back.

In 1980, Clark’s story began on a dairy farm in Queenstown (now Komani). He built his first company, Crickley Dairy, selling milk to residents in the Eastern Cape, with just five cows and one employee. The dairy grew over time, adding fruit juices to its product offering. Clark then began pursuing his dream of producing affordable refreshments and began investigating the production of carbonated soft drinks.

In 2003, he launched Twizza, selling his affordable range into townships and small retailers that big brands often serve through longer, pricier chains. The company’s first production line could handle only 4,000 litres an hour. However, within five months, the start-up quickly outgrew its manufacturing plant.

The brand expanded beyond its origin in the Eastern Cape, and Clark established the Middelburg manufacturing facility in 2012 to meet the growing demand. In 2015, this was followed by a facility in Cape Town.

Today, Twizza produces an array of soft drinks, energy drinks, and mixers, known for their affordability, and employs more than 650 people. It has earned Top Employer certification every year since 2022. Despite growing into one of the region’s largest soft drink manufacturers, Twizza says it continues to prioritise its workforce, crediting its defined culture and focus on nurturing talent as central to its long-term vision.

The Crickley deals remain subject to regulatory approval, with full implementation expected later this year. The acquisition of Twizza was confirmed as finalised in March.