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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