https://www.engineeringnews.co.za
Africa|Business|Business Growth|Energy|Financial|supply-chain
Africa|Business|Business Growth|Energy|Financial|supply-chain
africa|business|business-growth|energy|financial|supply chain

Alterra-led consortium to acquire majority stake in Chill Beverages

Cans of Score energy drinks

Photo by Score Energy Drink

15th May 2024

By: Darren Parker

Creamer Media Contributing Editor Online

     

Font size: - +

A consortium led by private equity firm Alterra Capital Partners and including broad-based investment holding company the Mineworkers Investment Company (MIC) and independent private equity house Admaius Capital Partners, will acquire a majority stake in beverage company Chill Beverages from Old Mutual Private Equity (OMPE).

This acquisition marks the first investment by Alterra’s Africa Accelerator Fund.

Chill operates in one of the fastest growing beverage segments through its range of Score energy drinks, Fitch & Leedes premium mixers and Chateau Del Rei sparkling wine. The company has a national footprint, robust production capabilities in Gauteng and the Western Cape, and is led by an experienced management team.

The Alterra-led consortium intends to further support Chill through additional marketing spend on its brands, increased focus on developing a wider Gauteng distribution network and investment in new product development to extend its product range.

“Energy drinks is the fastest growing beverage category in South Africa and Score is a significant player in this market. The recent launch of Chateau Del Rei has been very successful and its potential is enormous. We look forward to partnering with management to deliver on our robust value creation initiatives and believe Chill can continue to go from strength to strength,” Alterra partner Bruce Steen said on May 15.

The consortium also aims to work with Chill management to drive transformation at the company, including developing a diverse bench of talent throughout the organisation, ensuring diverse representation at the board and executive management, as well as supporting black- and female-owned enterprises across its supply chain. 

“Our modus operandi is to partner with strong management teams to deliver superior business growth by significantly empowering them through business ownership and inculcating a strong growth mindset. We wish the business and the management team continued success in their next chapter with the Alterra consortium.” OMPE co-head Chumani Kula said.

Debt financing for the transaction is being provided by financial institutions Standard Bank and RMB, while advisers on the transaction include law firms Webber Wentzel, Cliffe Dekker Hofmeyer and ENS on legal, as well as EY on financial due diligence. 

"MIC has maintained a keen interest in investment opportunities within the food and beverage sector. We are pleased to be part of the team supporting a bourgeoning South African beverage company in Chill. Through this partnership, we aim to drive positive transformation and sustained success within Chill," MIC CEO Mary Bomela said.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Environmental Assurance (Pty) Ltd.
Environmental Assurance (Pty) Ltd.

ENVASS is a customer and solutions-driven environmental consultancy with established divisions, serviced by highly qualified and experienced...

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Uniclox at Nampo 2024
Uniclox at Nampo 2024
Updated 7 hours ago
Dachser South Africa at Nampo 2024
Dachser South Africa at Nampo 2024
Updated 7 hours ago
AUTO-X at Nampo 2024
AUTO-X at Nampo 2024
Updated 7 hours ago
Astron Energy at Nampo 2024
Astron Energy at Nampo 2024
Updated 7 hours ago

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.282 0.328s - 138pq - 2rq
Subscribe Now