Home Africa World: Beam Suntory buys 50% of South African company

World: Beam Suntory buys 50% of South African company

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Beam Suntory has acquired a 50% equity stake in ABV Brands Proprietary Ltd., an independent distributor of premium spirits in South Africa, from Cyprus-based FIX Wines & Spirits Ltd.

The remaining 50% will continue to be held by ABV Brands’ co-founders and management team.

ABV Brands has been the appointed distributor in South Africa for Beam Suntory (previously Beam Global) since its founding in 2010.

At that time, ABV Brands has grown sales of Beam Suntory’s brands by more than 260%, driven in part by consistent double-digit growth of Jim Beam and Courvoisier.

The transaction to allow for further investment in sales and marketing capabilities to expand distribution and reach more consumers.

ABV Brands aims to be among the top five distributors in South Africa by 2020.

Under the terms of the deal, ABV Brands will continue to focus on growing and distributing its entire current spirits portfolio in South Africa.