KWV South Africa: Difference between revisions
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In [[2004]], KWV Limited entered into an agreement with Phetogo Investments, a [[black economic empowerment]] [[consortium]], whereby the latter would purchase 25.1% of KWV Limited [[shares]]. [[As of 2005]], this has been the largest empowerment transaction in the South African wine industry. |
In [[2004]], KWV Limited entered into an agreement with Phetogo Investments, a [[black economic empowerment]] [[consortium]], whereby the latter would purchase 25.1% of KWV Limited [[shares]]. [[As of 2005]], this has been the largest empowerment transaction in the South African wine industry. |
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The KWV Headquarters and main production complex are situated in the Cape Winelands in Paarl, a town 45 minutes from Cape Town. Cellar tours are offered at the KWV Wine Emporium. (Take the Cecilia Street Exit off the N1 freeway, just after the Main Street Exit). |
The KWV Headquarters and main production complex are situated in the Cape Winelands in Paarl, a town 45 minutes from Cape Town. Cellar tours are offered at the [[KWV Wine Emporium]]. (Take the Cecilia Street Exit off the N1 freeway, just after the Main Street Exit). |
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==External links== |
==External links== |
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Revision as of 13:12, 29 May 2006
The Koöperatieve Wijnbouwers Vereniging van Zuid-Afrika Bpkt (usually abbreviated to KWV) is a co-operative founded on 8 January 1918 by wine makers from the Western Cape in South Africa. It was created in order to represent the interests of the farmers, as well as a marketing organisation — particularly for the lucrative exports market — and to manage production, since large surpluses of wine impacted negatively on the market in previous years. The name is Dutch for "Co-operative Winemakers' Society of South Africa Ltd".
Prime Minister Jan Smuts was a strong supporter of the initiative, and was responsible for getting it through Parliament. In this respect, the company also acted as an arm of the state in enforcing regulations, although today this function is performed by the non-profit Wine Industry Trust, which also acts as a general marketing agent for South African wines. This was funded by KWV as part of the settlement with the government.
Until the early 1990s, KWV controlled the vast majority of the wine business. After the end of apartheid in 1994, wine exports increased rapidly and surpluses disappeared; in fact, wine began to be imported for local consumption. KWV is a large brandy producer, and making some of the world's top grape brandies. For decades, KWV products were only exported and could not be purchased locally in South Africa. This changed in 2004, when the first brands were launched on the local market. In 2005, several of the remaining brands were launched on the local retail market. KWV wines and brandies regularly win awards on wine shows both locally and internationally.
In 2004, KWV Limited entered into an agreement with Phetogo Investments, a black economic empowerment consortium, whereby the latter would purchase 25.1% of KWV Limited shares. As of 2005, this has been the largest empowerment transaction in the South African wine industry.
The KWV Headquarters and main production complex are situated in the Cape Winelands in Paarl, a town 45 minutes from Cape Town. Cellar tours are offered at the KWV Wine Emporium. (Take the Cecilia Street Exit off the N1 freeway, just after the Main Street Exit).