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Nedbank Private Equity’s successful divestiture of its equity stake in The Beverage Company
Nedbank Private Equity (NPE), a division of Nedbank Corporate and Investment Banking (CIB), has successfully and fully exited its equity investment in The Beverage Company (BevCo) to Varun Beverages Limited (Varun), which is listed on both the Bombay Stock Exchange and National Stock Exchange in India.
In 2014 NPE purchased an equity stake in Little Green Beverages (LGB). At that point in time, LGB was a small regional carbonated soft drink (CSD) manufacturer in the Eastern Cape, with a brand called Refreshhh.
With 3 years into our LGB investment, Ethos Private Equity, now The Rohatyn Group (TRG), teamed up with NPE in a buy-and-build investment thesis, with LGB as the cornerstone asset in a platform to build a large carbonated soft drinks manufacturer in South Africa.
In the following 2 years, BevCo successfully bought Quality Beverages, a regional Cape Town CSD manufacturer producing the Jive brand, and Shoreline Beverages, a regional KwaZulu-Natal CSD manufacturer producing the Coo-ee brand. These acquisitions created South Africa’s 2nd-largest beverage manufacturing company.
BevCo now boasts annual sales exceeding R4,5 billion, selling over 62 million cases of carbonated soft drinks annually and is the owner of 4 large regional brands in Refreshh, Coo-ee , Jive and Reboost. BevCo is also the exclusive manufacturer of Pepsi in South Africa and several neighbouring countries.
Varun is a key player in the beverage industry and among the largest manufacturers and distributors of PepsiCo products outside the United States of America. Their investment in BevCo is their 1st investment in South Africa and represents significant foreign direct investment in the country by a company looking to grow the portfolio of the international and home-grown brands it has acquired.
Varun has been associated with PepsiCo since the 1990s and has, over 2 and half decades, consolidated its business association with PepsiCo, increasing the number of licensed territories and subterritories, producing, and distributing a wider range of PepsiCo beverages.
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R1 billion debt capital market issuance by OMLACSA
Nedbank Corporate and Investment Banking (CIB) is proud to announce that its Specialised Distribution Team has once again been mandated as sole lead arranger by Old Mutual Life Assurance Company South Africa Limited (OMLACSA), a subsidiary of Old Mutual Limited (OML), in its return to the South African debt capital markets for a R1 billion bond issuance.
Published 17 May 2024 in nedbank:cib/deals
R1 billion debt capital market issuance by OMLACSA
Nedbank Corporate and Investment Banking (CIB) is proud to announce that its Specialised Distribution Team has once again been mandated as sole lead arranger by Old Mutual Life Assurance Company South Africa Limited (OMLACSA), a subsidiary of Old Mutual Limited (OML), in its return to the South African debt capital markets for a R1 billion bond issuance.
Published 17 May 2024
Nedbank Private Equity’s successful divestiture of its equity stake in The Beverage Company
Nedbank Private Equity (NPE), a division of Nedbank Corporate and Investment Banking (CIB), has successfully and fully exited its equity investment in The Beverage Company (BevCo) to Varun Beverages Limited (Varun), which is listed on both the Bombay Stock Exchange and National Stock Exchange in India.
Published 26 Apr 2024 in nedbank:cib/deals
Nedbank Private Equity’s successful divestiture of its equity stake in The Beverage Company
Nedbank Private Equity (NPE), a division of Nedbank Corporate and Investment Banking (CIB), has successfully and fully exited its equity investment in The Beverage Company (BevCo) to Varun Beverages Limited (Varun), which is listed on both the Bombay Stock Exchange and National Stock Exchange in India.
Published 26 Apr 2024
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 23 Apr 2024 in nedbank:cib/deals
Nedbank CIB arranges landmark auction for Stor-Age
As a leading debt capital market arranger in the property sector, Nedbank CIB is proud to announce its role in assisting Stor-Age with the establishment of its Domestic Medium-Term Note (DMTN) Programme and executing its inaugural public bond auction as the sole lead arranger. Stor-Age raised R500 million across two notes of offer, which listed on the JSE on the 18th of April 2024. Nedbank was also appointed in various agency roles on the programme, including the debt sponsor and paying, settlement, transfer, calculation and issuer agent.
Published 23 Apr 2024
