Vasari-backed Ethiopian liquor maker ceases production of denatured alcohol

ETHIOPIA – Rorank Business Plc, a local Ethiopian company that produces alcoholic beverages under the ownership of British giant alcoholic beverage investor Vasari Group, has ceased making denatured alcohol due to shortage of raw material. The production facility located at Amhara Regional State, has been making and supplying denatured alcohol for five years to factories that make milk, cosmetics and medication. Other than shortage of raw material, the company has stopped making the products due to the 60% excise tax on denatured alcohol legislated by parliament a month ago, Addis…

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Vasari Beverages raises US$100m to fund expansion plans in Ethiopia and beyond

ETHIOPIA – Vasari Beverages B.V., an alcoholic beverage investor, has completed a US$100million capital raise to fund a set of growth opportunities including expansion of its existing beverage operations in Ethiopia. The funding which was led by RMB, a leading pan-African investment bank, will also support the firm’s pursuit of new acquisitions and greenfield developments across Africa and Asia. Led by Vivian Imerman, the group has invested across emerging and developed markets including Scottish distiller Whyte & Mackay, Global fruit-based drinks and products company Del Monte International and confectionary producer…

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