News

Clover acquires Frankie's Olde Soft Drinks

Most popular

Hard seltzers pave the way for 'soft seltzer'?

What will Coca-Cola Co's priorities be? - analysis

The rise of adaptogens in soft drinks

The Coca-Cola Co Performance Trends 2016-20 - data

Constellation Brands in fiscal-2021 - preview

MORE

Food and beverage group Clover has acquired 'retro' South African drinks brand Frankie’s Olde Soft Drinks for an undisclosed sum.

The agreement, announced yesterday, will see the formation of a new company - Clover Frankie's - which will manufacture, sell, market and distribute a range of carbonated soft drinks, hot chocolate powder and lollies using the Clover (under licence) and Frankie’s trademarks. Frankie's portfolio includes ginger beer, cream soda and cloudy lemonade. 

Clover will hold 51% of the new venture with Frankie’s owning the remaining 49%. Clover has the option to acquire the remaining issued share capital in the future at a purchase price "to be calculated using an already-agreed formula".

Clover chief executive Johann Vorster said: “Apart from the brand synergies, this acquisition provides Clover with an important platform from which to launch into carbonated soft drinks and other value added branded ranges. Our collaboration with Frankie’s allows us to do so measuredly through a manufacturer uniquely positioned between niche and every day soft drinks.”

Mike Schmidt, co-founder of Frankie’s, added: “This deal represents a huge opportunity for the Frankie’s brand. Whilst, on one hand, it was an emotionally-tough decision to part with the brand that Paula and I have spent the past nine years growing, on the other we knew that this was absolutely the right thing and more importantly the right time to do this deal. As shareholders in Clover Frankie’s we are very confident that the brand will retain its unique character and will continue to grow from strength to strength."

Frankie’s currently out-sources its sales, merchandising and production function.

"With 80% of historical sales happening in Gauteng, KwaZulu-Natal and the Western Cape, we are confident that Clover Frankie’s will benefit tremendously from the wider national footprint, additional listings and sales and merchandising expertise in Clover’s distribution network," added Schmidt. 


Related Content

"Was Coca-Cola the right company to buy Zico? In hindsight, probably not" - just-drinks speaks to Zi...

How soft drinks can tap into meal delivery revolution - Comment

How soft drinks can tap into meal delivery revolution - Comment...

The soft drinks category in 2020 - just-drinks' Review of the Year, Part II - FREE TO ACCESS

The soft drinks category in 2020 - just-drinks' Review of the Year, Part II - FREE TO ACCESS...

What just-drinks said about the soft drinks industry - The review of 2019 - FREE TO ACCESS

What just-drinks said about the soft drinks industry - The review of 2019 - FREE TO ACCESS...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?