South African Breweries (SAB) said today, it had made its foray into the glass manufacturing industry with the purchase of Nampak Glass by Isanti Glass – a company SAB has a significant interest in.
Zoleka Lisa, Vice President of Corporate Affairs at SAB said: “This transaction will create the first majority Black-Owned glass manufacturer in South Africa, delivering on SAB’s commitment to Government to convert existing suppliers to fall in line with the country’s transformation goals.”
Isanti Glass is 60% owned by Kwande Capital, SAB 35%, and employees of Asanti 5%.
Kwande is a black-owned and managed investment company established in 2010, with a primary focus on investing in companies with high growth potential in strategic sectors, primarily in the manufacturing and oil and gas sectors.
Lisa said the deal also ensures the security of supply in the medium and long term for SAB.
“We would like to thank everyone involved in making this deal happen, and we look forward to seeing the contributions Isanti will make and the development of more black industrialists,” she said.
