Africa’s fast growing alcoholic beverage distributor KDV sells minority stake to Tana Africa Capital

AFRICA – Kensington Distillers & Vintners, a London based alcoholic beverage manufacturing and distribution business with operations in South Africa, Kenya and Nigeria, has acquired an equity investment from Tana Africa Capital, an Africa-focused investment company.

Following the investment, the Pan-African private equity firm has clinched a minority stake from the KDV, the majority owner of Truman & Orange South Africa, Monument Distillers East Africa and Monument Distillers Nigeria.

Since its founding in 2014, the fast-growing alcoholic beverage company has been engaged in the production, distribution and sale of spirits and wines, with local manufacturing operations in the three fast growing African economies.

The deal was undertaken through Tana’s second fund Tana Africa Capital II with the partnership aimed to facilitate KDV’s expansion into high growth African markets in the next two years.

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“We have an ambitious vision to build an Africa-focussed drinks business, focused on catering to the continent’s increasingly wealthy, urban, drinkers – and we’re delighted to have found a partner who are as excited by this opportunity as we are.

“Tana’s investment will help us accelerate our brands’ growth, and enter new African markets, and we’re looking forward to working with their experienced team in the years to come,” Rowan Leibbrandt, KDV Founder and Co-CEO, commented.

Tana as an active and long-term investor has formed a partnership with the highly experienced founders, backed by a strong management team, in a business with exceptional growth potential, and will work to realise the company’s long-term vision of becoming the leading pan-African spirits and wine business.

Since its inception in 2011, the company has invested in a portfolio spanning the FMCG, retail, education, healthcare, and agribusiness sectors with operations in more than 20 countries across the African continent.

“We have an ambitious vision to build an Africa-focussed drinks business, focused on catering to the continent’s increasingly wealthy, urban, drinkers – and we’re delighted to have found a partner who are as excited by this opportunity as we are.”

Rowan Leibbrandt – KDV Founder and Co-CEO

“We are very excited to partner with the founders and management team at Kensington Distillers and Vintners to build an exceptional Africa-focused spirits business which makes aspirational, high-quality products available to a large group of potential consumers.

“Kensington Distillers and Vintners has great founding partners, an experienced management team, strong growth prospects and an exciting future ahead,’’ Mark Tindall, Managing Director at Tana, said.

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Mark Bowman, KDV Shareholder, Board member and Former Managing Director Africa of SABMiller reiterated saying, “As KDV grows its footprint across Africa we are delighted that an investment firm with the reputation of Tana has recognised the value that we know exists in our premium African spirits proposition.

“We are looking forward to working together to accelerate our growth over the next few years.”

During the transaction, KDV was advised by Caveat Legal while Tana was advised by Bowmans, Dentons, Deloitte and Singular.

KDV entered the Kenyan Market in 2019, introducing global alcohol drink brands such as its Bannerman’s Finest Scotch Whisky, Popov Vodka, Southern Comfort, Myers Rum, Paddy’s Irish Whisky, Firewater, and Buffalo Trace Bourbon in the leading East African economy.

This was after its successful launch of Monument Distillers Nigeria earlier that year, following the successful acquisition of the 1960 Rootz Bitters brand and the state-of-the-art manufacturing plant.

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