30 Mar 2026 Varun Beverages triples down in SA with Crickley Dairy takeover
Varun Beverages, the India‑based PepsiCo bottler accelerating its African expansion, has agreed to acquire Eastern Cape–based Crickley Dairy in a deal valued at around R238‑million.
The transaction, executed through its local subsidiary The Beverage Company (BevCo), follows the group’s much larger purchase of soft‑drink manufacturer Twizza last year — a R2‑billion‑plus deal that marked its second major step into South Africa’s beverage landscape.
Two years ago, Varun took over The Beverage Company (BevCo), a leading regional bottler for PepsiCo, in a R3-billion deal.
A key thread linking the Twizza and Crickley acquisitions is Ken Clark, the Eastern Cape entrepreneur who built both them both from the ground up.
Clark launched Crickley in the mid‑1980s after starting with just five cows, later expanding into value‑added dairy products. Two decades on, he founded Twizza in 2003, growing it into one of South Africa’s largest independent soft‑drink producers with plants in Cape Town, Queenstown and Middelburg.
Clark confirms that Varun’s initial interest centred on Twizza, but the deal was later expanded to include Crickley because the two businesses share infrastructure — including water and production systems — making a combined acquisition more practical.
A strategic move into dairy and diversification
Varun Beverages has positioned the Crickley acquisition as part of a broader strategy to diversify beyond carbonated soft drinks into value‑added dairy and juice‑based beverages.
Crickley’s portfolio includes milk, cheese, yoghurt and related dairy products, sold through major retailers such as Pick n Pay, Shoprite and Spar. The company also produces a small range of soft drinks.
For Varun, which already bottles PepsiCo brands in South Africa, Lesotho and Eswatini, the addition of chilled dairy gives it access to new categories with stronger margins and year‑round demand.
Building on the Twizza platform
Twizza brings significant manufacturing scale: three plants, a capacity of roughly 100-million 230ml cases, and a portfolio spanning sodas, energy drinks, mixers and the premium Clark & Sons range.
In the financial year ending June 2025, Twizza reported R1.7‑billion in revenue and sold 71 million cases.
Combined, Twizza and Crickley give Varun a multi‑category South African platform across ambient beverages, energy drinks, mixers and now dairy — strengthening BevCo’s relevance in a competitive market.
Clark, now 70, described the decision to sell as difficult but timely, noting that his sons are involved in the business and that the transition felt right.
Although the takeover is scheduled for 31 December 2026, his team will continue running operations until regulatory approvals are complete.
Varun’s rapid expansion signals intensifying competition in both value‑priced soft drinks and dairy.
For the Eastern Cape, the deal marks the end of an era for one of the region’s most influential beverage entrepreneurs — and the start of a new chapter under a global bottling powerhouse.
Expanding further in Africa
Alongside its full-year results, which were announced on 9 March, Varun Beverages said it broadened its footprint in Africa during 2025.
The company cited several steps, including the incorporation of a wholly owned subsidiary in Kenya, the start of Cheetos production in Morocco and Zimbabwe, as well as the expansion of PepsiCo snacks distribution in Zimbabwe and Zambia.
In October, Varun Beverages entered the alcoholic beverage market through a distribution agreement with Carlsberg in Africa.
Source: Crickley, just-drinks