Standard Bank is delighted to announce that it has acted as sole financial advisor to Chill Beverages and Inhle Beverages on the sale of the business to Alterra Capital Partners, Mineworkers Investment Company (MIC) and Admaius Capital Partners.
Chill Beverages and Inhle Beverages are owned by Old Mutual Private Equity and the Management team. Chill Beverages owns energy drink Score, mixer brand Fitch & Leedes, and Chateau Del Rei, a canned perlé sparkling wine product. Inhle Beverages is the co-packer of choice for numerous tier 1 local and multinational companies in South Africa.
Standard Bank also acted as joint lender to Alterra, MIC and Admaius Capital Partners for the acquisition funding.
For the new owners, the proposed deal represents an opportunity to acquire a fully integrated beverages platform of scale, with world-class manufacturing facilities based in Gauteng and the Western Cape, operating in the fast-growing segments of the beverages market, with significant scarcity value.
Alterra is an Africa-focused private equity firm, which targets domestic-facing companies that serve basic consumer and vital business needs.
MIC is a broad-based BEE investment company that targets various sectors, including financial services, health, leisure, business services, industrials, technology, and media.
Admaius Capital Partners is a private equity firm that invests in high impact sectors in Africa, including digital infrastructure, financial services, FMCG, healthcare and education.
“We are very pleased with our investment in the business and a very strong partnership we enjoyed with the Management team. We wish Chill Beverages and Inhle Beverages well as they embark on a new chapter under new owners” said Chumani Kula, Co-Head of Old Mutual Private Equity.
DID YOU KNOW?
Standard Bank Group is the largest African bank by assets, operating in 20 African countries, 4 global financial centres and 2 offshore hubs. Headquartered in Johannesburg, South Africa, we are listed on the Johannesburg Stock Exchange, with share code SBK, and the Namibian Stock Exchange, share code SNB.
As at 30 June 2024, the group’s market capitalisation was R347 billion (USD19 billion). The group’s headline earnings for the period ended 30 June 2024 were R22.0 billion (USD1.2billion) and total assets were R3.1 trillion (USD170 billion).
Standard Bank has a 162-year history in South Africa and started building a franchise outside southern Africa in the early 1990s. Our strategic position, which enables us to connect Africa to other select emerging markets as well as pools of capital in developed markets, and our balanced portfolio of businesses, provide significant opportunities for growth.
As at 30 June 2024, Standard Bank Group had 19.5 million clients, employed nearly 51 000 people (including Liberty) and had almost 1 200 points of representation and 5 500 ATMs on the African continent.
The group’s largest shareholder is the Industrial and Commercial Bank of China (ICBC), the world’s largest bank, with a 19.4% shareholding. In addition, Standard Bank Group and ICBC share a strategic partnership that facilitates trade and deal flow between Africa, China and select emerging markets.
For further information, go to http://www.standardbank.com
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