Wine and spirits producer KWV, which is majority-owned by Vasari Beverages, has onboarded new investors, Masimong Group Holdings and Rand Merchant Bank (RMB), through its Family Office Group Solutions Business.
John Loomes, the CEO of KWV who assumed the position last year, said in a statement yesterday, “Entering into this agreement opens exciting opportunities for KWV.”
KWV’s brands include Roodeberg, KWV Wines & KWV Brandies, and Laborie, while KWV Brandies are regular winners of best brandy of the world and best brandy and cognac producers of the world accolades.
Masimong Group, led by chairperson Mike Teke, is a diversified investment company that is majority black-owned and controlled. It focuses on long-term investments in sectors with high growth potential, collaborating with strategic expert partners like Vasari Beverages to build sustainable value.
Vasari Beverages is an unlisted UK-based investment group headed up by Vivian Imerman.
RMB has a long-standing partnership with the Masimong Group.
“We eagerly look forward to leveraging the new investors’ synergies to propel KWV's future success,” added Loomes.
He said: “These investors’ substantial commitment to KWV emphasises the bright future of the wine, spirits and RTD (ready to drink) sectors and highlights KWV’s significant role within them. It is testament to the proud heritage of our brands, our exceptional capabilities and team. This partnership represents a pivotal advancement for KWV, enhancing our market position and competitiveness. It facilitates greater engagement with key customers and is likely to strengthen our capabilities in co-manufacturing and strategic acquisitions.”
Loomes said with Vasari Beverages retaining its majority stake, it anticipated a smooth integration of our new shareholders, aligning with KWV's established strategies.
“We foresee a stable path forward, with no significant changes to our shareholding structure. This partnership is positioned to drive profitable growth and enhance shareholder value," he said.
KWV said it remained committed to exceeding performance expectations in its operational sectors, continually advancing its strategic initiatives and growth objectives.
BUSINESS REPORT