South African iced-tea manufacturer Bos Brands plans to enter the UK market next Spring after securing growth equity funding from a consortium of investors comprising Siya Kolisi (Springbok Captain), his wife Rachel Kolisi (CEO Kolisi Foundation) and the Banducci family.
The amount raised by the company was not disclosed.
Bos Brands is an Invenfin (Remgro’s VC arm) portfolio company. It was founded in 2010, and entered the European market in 2013 when it launched its rooibos iced tea brand in the Netherlands, France and Belgium. The brand is the latest in a number of South African FMCG companies that have identified the UK and wider-European markets as part of their growth strategy. They include The Duchess, which was backed by the venture capital arm of AB InBev, ZX Ventures, and Rand Merchant Bank last year ( you can read that article here) and Goodleaf.
Mazars and Cala Capital Africa advised on the equity raise.