Coca-Cola Beverages sells Appletiser to black-owned African Pioneer Group

Coca-Cola Beverages (South Africa) announced on Monday that it has sold a 17.5% stake in Appletiser to black-owned investment holding company African Pioneer Group.

African Pioneer Group has interests in fishing, gaming, beverages, mining, engineering and energy.

Coca-Cola Beverages (South Africa) also sold a 4% stake to black empowerment partner Sipho Excellent Madlala.

Appletiser has been an iconic South African brand for half a century.

It was created by French-Italian immigrant Edmond Lombardi in 1966 in the Elgin Valley of the Western Cape.

For more detail about this sale; listen to the audio below.

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Article brought to us by Old Mutual.

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