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Ex-Whyte & Mackay CEO buys South African spirits group
Former Whyte & Mackay CEO Vivian Imerman has acquired a majority stake in South African spirits business TNB, through his company Vasari.
Vasari intends to grow TNB’s liqueurs portfolio, which includes Fruit Lagoon, into a mainstream range
The acquisition, for an undisclosed sum, gives Vasari access to “rising consumer demand for pleasant tasting liqueurs and spirits”, through TNB’s “award-winning” portfolio of liqueur, cream and infused whisky brands.
They include Ponchos, Carvo, Kandi, Fruit Lagoon, Sally Williams and new brands Peacasso, Fuego and Republic.
Vasari’s majority stake in TNB, which achieved year-to-date sales growth of 12%, will spur the group on in its strategy to build a world class FMCG portfolio across Africa and Asia.
It is the first spirits investment since Vasari sold the Whyte & Mackay business to United Breweries in 2007.
“TNB is uniquely placed to tap into the rising consumer demand for pleasant tasting liqueurs and spirits and we see this trend gaining momentum not just in South Africa but across the continent,” said Imerman.
“We are appointing top industry talent to drive our ambitious plans for the business and we will be moving quickly to grow share and extend our reach into new markets.”
Vasari has employed ex-SABMiller senior executive Pedro Lotra as CEO of TNB, utilizing his experience of new business development in South Africa, Zambia, Sudan, Angola and Mozambique.
TNB currently distributes its brands in South Africa from 12 distribution centres, as well as across the continent to markets including Nigeria, Zimbabwe and internationally to Australia. Exports currently account for 20% of TNB’s sales.
Vasari, which has offices in London and Johannesburg, intends to transform TNB from a niche spirits player into a mainstream company.
The deal comes weeks after it was revealed Vasari had an interest in acquiring Whyte & Mackay back. The Scotch whisky group was sold last year to Diageo, but has been the subject of a competition inquiry, which could ultimately result in its sale.