Wine and spirits group KWV has announced that Massimon Group, chaired by Mike Teke, and Rand Merchant Bank (RMB) have become new shareholders.
KWV said Masimong Group and RMB recognize the industry's growth potential and value KWV's history of consistent value creation. In addition to potential capital investments and access to additional funding, partners can also provide valuable insight and connections from the perspective of a wise advisor.
Their expertise will be critical in advising on potential acquisitions and exploring new market opportunities, KWV said.
KWV, which celebrated its 100th anniversary in 2018, will continue to be majority-owned by Vasari Beverages, although the group also declined to disclose details of its new stake. In addition to wine brands such as Laborie, there are also brands such as Ponchos Tequila, Paddy Irish Whiskey, and Wild Africa Cream.
“The signing of this agreement opens up exciting opportunities for KWV,” KWV CEO John Rooms said in a statement. “We look forward to leveraging the synergies of our new investors to drive KWV’s future success.”
Masimong Group was founded in 2013 as an investment holding company focused on empowerment, growth and value creation. The company owns shares in Cerity Resources, Massimon Energy, and Mouton Holdings, which has interests in citrus and rooibos.
RMB is Africa's leading corporate and investment bank and has a long-standing partnership with Massimon Group.
“The significant commitment of these investors to KWV highlights the bright future of wine, spirits and wine. [ready-to-drink] and KWV’s important role in that,” said Loomes.
“This is a testament to our brand, our exceptional capabilities and the proud tradition of our team. This partnership represents a vital advancement for KWV and strengthens our market position and competitiveness. This may facilitate collaboration with key customers and strengthen our capabilities in joint ventures” – manufacturing and strategic acquisitions. ”
