Coca-Cola Beverages South Africa (CCBSA) sold 17.5% of its shareholding in Appletiser South Africa (ASA) to African Pioneer Group (APG) – a black-owned investment company.
Sipho Excellent Madlala, a new entrant black empowerment partner and a 20-year veteran of CCBSA, acquired an additional 4% in the company.
According to CCBSA, “The deal marks a significant milestone in the history of an iconic South African brand that has earned the loyalty of South African consumers over the past 50 years.”
Appletiser was previously wholly owned by SABMiller but with the merger, the manufacturing facility, ASA, became a subsidiary of CCBSA, the South African operation of Coca-Cola Beverages Africa.
Black-owned investment company acquires 17.5% of Appletiser South Africa
