{"id":1976,"date":"2014-02-10T11:15:44","date_gmt":"2014-02-10T11:15:44","guid":{"rendered":"http:\/\/vasariglobal.com\/?p=1976"},"modified":"2015-08-26T00:47:51","modified_gmt":"2015-08-25T23:47:51","slug":"uks-vasari-buys-south-african-spirits-firm-as-it-eyes-africa","status":"publish","type":"post","link":"https:\/\/vasariglobal.com\/news\/uks-vasari-buys-south-african-spirits-firm-as-it-eyes-africa\/","title":{"rendered":"UK\u2019s Vasari buys South African spirits firm as it eyes Africa"},"content":{"rendered":"
[vc_row][vc_column width=”1\/6″ offset=”vc_hidden-xs” drop_shadow=””][\/vc_column][vc_column width=”2\/3″ el_class=”newsItemMainColumn” drop_shadow=””][vc_column_text el_class=”darker-text”]South\u00a0African niche spirits company TNB was last week bought for R200m by UK-based investment vehicle Vasari, which plans to grow the company\u2019s reach throughout Africa.[\/vc_column_text][vc_single_image image=”1732″ border_color=”grey” img_link_large=”” img_link_target=”_self” rounded_image=””][vc_column_text]Vasari\u2019s Vivian Imerman, a South African entrepreneur living in the UK, said last week TNB would be used as a platform to launch new Vasari products as well as “to take their current product portfolio and expand their sales throughout Africa and other markets where I have contacts and opportunities”.<\/p>\n

Gauteng-based TNB\u2019s brands include Carvo, Kuber-Maister, Ponchos, Sour Monkey and Fruit Lagoon.<\/p>\n

The company\u2019s expansion would target “most of the important African economies”, Mr Imerman said.<\/p>\n

Vasari already manufactures certain consumer goods on the continent, and Mr Imerman said it was possible that Vasari would manufacture some of TNB\u2019s new products north of South Africa\u2019s borders.<\/p>\n

But TNB\u2019s African growth is likely to face increasing competition from global spirits, wine and beer groups, including SABMiller, Heineken and Diageo.<\/p>\n

Mr Imerman said African markets were becoming “attractive markets for the multinationals, as they are for me”.<\/p>\n

“That\u2019s because the markets are globalising and the opportunities for growth are there because consumers are clearly earning more disposable income.”<\/p>\n

He said the African spirits and beer market “is experiencing good growth” \u2014 a sentiment supported by SABMiller\u2019s strong gains from the continent in recent reporting periods.<\/p>\n

As do other emerging market regions, Africa continues to grow its contribution to SABMiller\u2019s bottom line.<\/p>\n

“Foreign direct investment is being embraced vigorously by all the different African countries,” Mr Imerman said.<\/p>\n

“The countries are now fiercely aware that they need foreign capital, foreign expertise and international know-how in order to improve the living standards of the people in their country.<\/p>\n

“Clearly they\u2019re embracing it because they see the wisdom of it \u2014 maybe more than they\u2019ve seen before. And also with the growth opportunities, international companies are now far more interested in investing in these countries, which is good for the companies, good for the countries, good for the people in the countries and it\u2019s good for business at large.”<\/p>\n

The consumer goods sector is Mr Imerman\u2019s major focus in Africa, and he said that he was looking at takeovers of other food and beverage businesses “on a daily basis”.<\/p>\n

Meanwhile, Mr Imerman said he intended buying back Scottish beverages producer Whyte & Mackay, which Vasari sold seven years ago.<\/p>\n

Whyte & Mackay is owned by an Indian subsidiary of Diageo, and Mr Imerman said he had expressed an interest in the acquisition. Whyte & Mackay\u2019s owner, United Spirits Group, had told the Bangalore Stock Exchange that it was looking for a buyer.<\/p>\n

“I see different opportunities in terms of being able to sell the product than were available at the time that I sold the company,” he said.<\/p>\n

While Whyte & Mackay had “very limited” exposure to South Africa and the rest of Africa, Vasari would look to grow its footprint on the continent.<\/p>\n

“I know the business, and the opportunities of where I\u2019m concentrating my business make it synergistic to my strategic plan going forward over the next five to seven years.”<\/p>\n

Mr Imerman said both TNB and Whyte & Mackay would form part of Vasari\u2019s strategy to “build a consumer business in Africa”.<\/p>\n

A report by the World Bank last year said the size of Africa\u2019s food and beverage market is projected to reach $1-trillion by 2030 \u2014 more than three times the current market, which is worth $313bn.[\/vc_column_text][vc_column_text el_class=”arrowLink” css=”.vc_custom_1432116908242{margin-top: 10px !important;}”]View Original Article<\/a>
\nBusiness Day Live[\/vc_column_text][\/vc_column][vc_column width=”1\/6″ offset=”vc_hidden-xs” drop_shadow=””][\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"

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