New acquisition for KWV
2006-06-15
THE KWV Ltd has acquired a share in liquor distributor NMK, in a deal that will further strengthen KWV’s competitive position in the South African market.
KWV first launched a selected portfolio of its wines and brandies in the local market in May 2004. In the two years that followed, sales have exceeded all expectations.
The decision to enter into negotiations with NMK was based on synergistic strategies.
KWV aims to further extend its Southern African market penetration and product portfolio, whereas NMK wants to entrench its position as a brand builder and distributor in the on-consumption and independent retail channels.
The move will benefit both parties and complement KWV’s existing channels and key partners in the South African market.
The transaction is subject to normal regulatory suspensive conditions and the price has not been disclosed. The partnership with the current NMK management ensures continuity and they are fully committed to the deal.
The company will continue with its product distribution and other activities.
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