News24 | Mineworkers Investment Company buys into Fitch & Leedes owner Chill Beverages

(Fitch & Leedes/Facebook/Supplied)

(Fitch & Leedes/Facebook/Supplied)

The Mineworkers Investment Company (MIC) is part of a private equity-led consortium that has bought locally based Chill Beverages, whose brands include premium mixer Fitch & Leedes and Score energy drinks.

Africa-focused private equity fund Alterra Capital Partners is leading the consortium, having partnered with the MIC and Rwanda-based Admaius Capital Partners to acquire 100% of Chill Beverages from Old Mutual Private Equity. Financial details of the transaction were not disclosed, but Chill Beverages used to be owned by Brian Joffe’s Long4Life, which also owned Sorbet and Sportsmans Warehouse. That company delisted and was sold in total for R4.2 billion in 2022.

The MIC is the black-owned investment arm of the Mineworkers Investment Trust, which was established in 1995 to benefit members of the National Union of Mineworkers. It also has interests in companies including casino and hotel operator Peermont, FirstRand, and Primedia. Alterra was founded in 2020 by former members of global investor Carlyle and is based in Johannesburg.

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