BEVERAGES: KWV Acquires Golden Kaan
Recent Western Cape Business News
KWV has acquired the Golden Kaan brand with effect from 1 September 2009.
KWV, which owns 50% of Golden Kaan Ltd, acquired 100% of the Golden Kaan brand from its joint venture partner, Racke. With the acquisition, KWV will now fully incorporate the brand into its international portfolio. The brand will be managed by KWV’s international sales and marketing division based in Paarl, South Africa.
Racke CEO Marcus Moller-Racke stated: “I am convinced that by incorporating Golden Kaan into the KWV portfolio, the brand will gain even more authenticity and substance. With KWV’s ability to enforce the brand internationally, Golden Kaan will be taking another great step forward. The Racke group will continue to
distribute Golden Kaan through its European distribution organizations.”
CEO of KWV Holdings Ltd, Thys Loubser, added: “Golden Kaan is a strong brand that has been developed by a great partnership since its inception in 2003. We are very excited about this acquisition and believe that both KWV and Golden Kaan will benefit, especially with Golden Kaan’s well established footprint in Europe. We look forward to continue building this brand and our relationship with Racke.”
Marian Kopp, Managing Director of the brand’s holding company, will head and manage the transition until mid 2010.
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