Completed 26 April 2023: Heineken combined Distell (SA’s leading cider/spirits/wine group) and Namibia Breweries Limited with Heineken South Africa to create HEINEKEN Beverages, adding >€1bn net revenue and €150m operating profit to Heineken’s African footprint. Competition approval carried a public-interest package worth >€500m including a >€250m new brewery and maltery, a €20m supplier development fund, €10m localisation fund and an employee share ownership plan (Bokamoso Workers Trust, 6% for c.5,000 employees; the 2023 BEE deal of the year).
Multi-country merger review (SA, Namibia, Botswana, Eswatini, Zambia, Zimbabwe, Tanzania).
Value: ~R40bn (verified against public announcements).
Advisers: Cliffe Dekker Hofmeyr advised Distell (including on the multi-tiered Remgro/Capevin pyramid unwinding); advisers on the other sides (not disclosed).
Recorded by The Meridian research desk from public announcements, regulatory filings and financial press coverage. Dates and values are as publicly reported.
