Tag Archives: Distell Group Ltd.

South Africa’s Distell acquires 75% stake in Cruz vodka

South African wine and spirits producer Distell Group announced on Monday it had acquired a 75% stake in Cruz Vodka from Blue Sky Brand Company, a South African family owned firm with the global rights to distribute the brand.

Distell did not disclose how much it paid for the brand except to say that it is the “fastest growing luxury imported vodka in South Africa”. The firm added that premium-vodka category was one of the fastest growing spirits categories in South Africa and that it was expected to continue growing strongly.

Distell is known for its cider brands, Savanna and Hunter’s Dry as well as Amarula liqueur, among others.

AB InBev completes sale of Distell stake

Anheuser-Busch InBev said on Wednesday that it has completed the sale of its indirect shareholding in South Africa’s Distell Group, the continent’s largest wine and spirits producer to the country’s Public Investment Corporation (PIC), a state owned corporation that manages the government’s Employee Pension Fund.

The financial terms of the deal were not disclosed.

“The sale was required as a condition of the South African Competition Tribunal’s approval on 30 June 2016 of the business combination between AB InBev and SABMiller,” AB InBev said in a statement.

Distell raises stake in Kenyan Wine & Spirits firm

Distell Group, South Africa’s largest wine and Spirits Company on Tuesday announced it has acquired a 26.43% stake in KWA Holdings East Africa Limited (KWAL), Kenya’s largest wine and spirits manufacturer and distributor, from Centum Investment Company Limited, increasing its ownership in the firm to 52.43%.

Distell first acquired a stake in KWAL, when in 2014, it took a 26% shareholding in the Industrial and Commercial Development Corp (ICDC).

AB InBev to sell Distell stake

Anheuser-Busch InBev NV has agreed to sell SABMiller’s stake in South African spirits maker Distell Group Limited to the country’s largest Pension administrator – The Public Investment Corp (PIC) for an undisclosed amount.

According to Wednesday’s closing price on the Johannesburg Stock Exchange (JSE), the 26.4% stake is said to be worth about R8.92bn rand ($640m).

Distell takes direct control over its wines and spirits distribution in the UK

Distell Group, South African-based wine, spirits and Cider Company said it would take over the marketing and distribution of its brands in the UK, ending a contract relationship with three UK distributors.

South Africa’s Remgro to raise $727m to acquire SABMiller’s stake in Distell

South Africa’s Remgro, an investment group said on Tuesday it would raise R9.9bn ($727m) to consider deals, including a right to buy SABMiller’s stake in drinks company Distell Group.

The company said it would raise the funds through a rights offer and the sale of B shares, it said in a statement on Tuesday. Investors will get 10 shares for every 100 they own at a price of R192.50 per share ($14.15) under the terms of the rights issue, which represents a 21% discount on Tuesday’s closing price of R241.72 ($17.77).

South Africa’s Distell Group sees full-year revenue and profit rise amid volatile trading environment

South Africa’s leading wines, spirits and cider producer, Distell Group Ltd, said on Wednesday that full-year revenue for period ending 30 June 2016 rose 9.6% to R21.5bn rand ($1.46bn), helped by a deepening of market penetration in its home market where it now has access to 36,000 outlets across the country.

Distell which also makes ciders such as Savanna, Hunter gold, Hunter Dry, among others said that revenue in its home front climbed 12.1% to R15.4bn ($1.05bn) on a 9% volume lift during a period of contraction in the economy and pressure on consumer spending.

South African Competition Commission approves AB InBev, SABMiller merger on conditions

The South African Competition Commission said on Tuesday it had approved the merger of AB InBev and SABMiller on the condition that AB InBev sell SABMiller’s 26% stake in Distell Group, a major producer of wines, cider and spirits in the country. According to Bloomberg, Distell is worth $559m.

South Africa’s Distell Group reports 18% rise in Half-Year (H1) profits as festive discounts, exports lifts sales

South Africa’s largest wine and spirits producer Distell Group Ltd, said on Wednesday that half-year profits rose 18%, helped by holiday wine discounts and higher earnings from exports due to the weaker rand currency.

The company, which also makes ciders such as Savanna, Hunter Gold, Hunter Dry, among others, said that sales by volume climbed 7.7% in the six months through December, compared with 3.7% a year earlier.