ABV Brands was appointed distributor in South Africa for Beam Suntory in 2010, and has since grown sales of Beam Suntory’s brands by more than 260%, driven in part by consistent double-digit growth of brands including Jim Beam.
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| Jim Beam a key driver in double digit sales growth in the Beam Suntory portfolio in South Africa since 2010 |
Acquired from Cyprus-based FIX Wines & Spirits Ltd, the remaining 50% of the business will continue to be held by ABV Brands co-founders and management team.
Commenting on the news, Albert Baladi, President, International at Beam Suntory, said: “I am delighted to announce our strategic investment in ABV Brands in South Africa, which extends our successful partnership with ABV Brands. The African spirits market has phenomenal growth potential for Beam Suntory and our global whisky and cognac portfolio is ideally suited to capture the growth of premium spirits. This partnership gives us a beachhead, and we will continue to look for opportunities to become a key player in Sub-Saharan Africa by expanding our footprint, growing our brands and securing strong routes to market.”
Today’s news represents a strategic extension of the partnership, and will unlock growth potential by allowing for further investment in sales and marketing capabilities to expand distribution and reach more consumers. ABV Brands aims to be among the top five distributors in South Africa by 2020.
Posted by Steve Rush