KWV has announced that while it will continue to be majority owned by Vasari Beverages, the company will be joined by Masimong Group Holdings (Masimong Group) and Rand Merchant Bank (RMB), through its Family Office Group Solutions Business, as new shareholders.
“Entering into this agreement opens exciting opportunities for KWV,” commented KWV CEO, John Loomes. 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. RMB, is a preeminent African corporate and investment bank and is a division of First Rand Bank Limited, publicly traded on the Johannesburg Stock Exchange (JSE) and 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 added: “These investors’ substantial commitment to KWV emphasises the bright future of the wine, spirits and RTD 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.”
The introduction of new shareholders will seamlessly integrate with KWV’s current management and operational strategies, ensuring continuity and stability.
“With Vasari Beverages retaining its majority stake, we anticipate 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,” added Loomes.
KWV remains committed to exceeding performance expectations in its operational sectors, continually advancing its strategic initiatives and growth objectives, he concluded.
