Varun Beverages subsidiary Bevco to acquire South Africa’s Crickley Dairy

SOUTH AFRICA – The Beverage Company Proprietary Limited (Bevco), a subsidiary of Varun Beverages Limited, has signed an agreement to acquire a 100% equity stake in Crickley Dairy Proprietary Limited, a South Africa-based dairy company. 

In a regulatory filing, the company confirmed the execution of the agreement on March 17, 2026. 

The transaction remains subject to regulatory approvals, including clearance from the Competition Commission of South Africa. 

Under the terms of the deal, Bevco will acquire the entire equity stake in Crickley for an enterprise value of ZAR 238 million (US$14.3M). 

Varun Beverages Limited said the acquisition aligns with its strategy to diversify its product portfolio into new categories such as value-added dairy and juice-based beverages. 

“The company said the move is aligned with its strategy to diversify its product portfolio into new categories such as value-added dairy and juice-based drinks,” the statement noted. 

The agreement has been executed between Bevco, Clark Holdings Proprietary Limited, and Crickley Dairy Proprietary Limited. 

Varun Beverages clarified that it does not currently hold any stake in Crickley and that neither Clark Holdings nor Crickley is related to its promoter group. 

“The company added that the transaction does not qualify as a related party transaction,” the filing said. 

Founded in 1984 by Ken Clark, Crickley Dairy has established a strong presence in South Africa’s dairy sector, particularly in the Eastern Cape region. 

The acquisition follows a series of strategic moves by Varun Beverages to strengthen its footprint in Africa. In December, the company announced plans to fully acquire South Africa-based Twizza through Bevco. 

Earlier, in March 2024, Varun Beverages acquired The Beverage Company in South Africa, including its subsidiaries such as Bevco. 

The company said the acquisitions have helped consolidate its presence across multiple markets, including South Africa, Lesotho and Eswatini, while expanding distribution rights in Namibia, Botswana, Mozambique and Madagascar. 

Varun Beverages Limited added that its international business remains stable, with long-term growth expected from new segments such as snacks and beer, as well as expansion into markets including Kenya. 

For the quarter ended December 2025, the company reported a 33% year-on-year increase in consolidated net profit to Rs 260 crore (US$31.3 million), while international volumes grew by 10%, supported by strong performance in South Africa. 

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