PE firm Tana Africa Capital takes minority stake in alcoholic beverages firm Kensington Distillers & Vintners

MAURITIUS – Tana Africa Capital, a leading Pan-African private equity firm has, announced its latest investment through its second fund Tana Africa Capital II into Kensington Distillers & Vintners, a fast-growing alcoholic beverage manufacturing and distribution business with operations in South Africa, Kenya and Nigeria.

The investment was made directly into KDV Holding that owns majority stakes in Truman & Orange South Africa, Monument Distillers East Africa and Monument Distillers Nigeria.

Since its founding in 2014 KDV, has established a fast-growing portfolio of wine and spirits brands including local manufacturing capability, in the key African markets of South Africa, Kenya and Nigeria.

The alcoholic beverages company has plans to add additional high growth African markets to its portfolio in the next two years.

Tana as an active and long-term investor, 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.

Mark Tindall, Managing Director at Tana, said: “We are extremely 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.’’

Pieter Cilliers, Principal at Tana, commented: “We see a significant untapped market opportunity to serve mainstream consumers with branded, high quality products at accessible price points. Our investment in KDV will allow the company to accelerate the growth of their business in the core markets of South Africa, Nigeria and Kenya, potentially including future mergers and acquisitions.”

“We are excited to partner with a strong founding and management team to build this pan-African platform,” he added.

“Our investment in KDV will allow the company to accelerate the growth of their business in the core markets of South Africa, Nigeria and Kenya, potentially including future mergers and acquisitions”

Pieter Cilliers – Principal, Tana Africa Capital

On his side, Rowan Leibbrandt, KDV Founder and Co-CEO said: “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 is 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.”

Mark Bowman, KDV Shareholder, Board member and Former Managing Director Africa of SABMiller concluded by adding that:  “As KDV grows its footprint across Africa we are delighted that an investment firm with the reputation of Tana has recognized 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.”

Since inception in 2011, Tana 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 and has so far raised US$600 million of capital since then.

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