KWV Challenges Conventions with Two SA Firsts 31 October 2014
KWV, home of the World’s Best Brandy, today unveiled SA’s first and only XO Cognac produced under a South African brand name, the KWV Héritage XO Cognac, and KWV Nexus 30 year old brandy, the world’s first commercially available 30 year old brandy containing potstill up to 42 years old.
In 1918, the year Nelson Mandela was born, South African wine farmers founded KWV with the aim of stabilising, supporting and structuring a young, struggling industry. Until the early 1990s, when world markets opened to South African wine, KWV played a central role in regulating the industry. Since then, KWV has transformed itself into a commercial player, exporting award-winning wines and brandies from its main cellar complex in Paarl all over the world.
The acquisition by Niveus in 2012 of a controlling interest is an important milestone in KWV’s history. Not only does KWV now have the stabilising benefit of a controlling shareholder that provides long-term support for its business strategy, but it is also significant that the controlling shareholder is a BBBEE shareholder born of a trade union investment company. More than 60% of KWV’s shares are now owned by entities that have BEE shareholders as controlling shareholders.
– Marcel Golding, KWV Chairman
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