Tag Archives: South Africa

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).

Guinness Nigeria mulls exporting to South Africa, others

Guinness Nigeria Plc, said it plans to increase exports of its iconic stout brand to South Africa and other countries in order to generate needed foreign exchange as it struggles to overcome dwindling sales in its home market.

South Africa’s Clover Industries to launch low-sugar Tropika

South Africa’s largest dairy fruit juice maker, Clover Industries said on Tuesday it would soon introduce Tropika Slender, a low-sugar and low-calorie variant of its bestselling beverage, Tropika, as it seeks to protect its market against a government sponsored sugar-tax that is to come into effect in April 2017. Clover has about 80% market share of South Africa’s dairy fruit juice sector.

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.

SA’s beverage industry criticize government’s sugar-tax plan as deadline for public comments end

Industry groups opposed to South Africa’s Treasury plan to tax Sugar-Sweetened Beverages (SSBs) made their concerns heard on Monday which was the last day for the public to submit comments on the proposed tax.

South African Coke bottler may backtrack on merger pledge if government goes ahead with sugar-tax plan

Coca-Cola Beverages Africa (CCBA), the South African group bottler of Coca-Cola products, said on Thursday it may not fulfill its commitment to invest R800 million rand ($54m) in enterprise development if the government goes ahead with its plans for a 20% tax on sugar-sweetened beverages (SSB).

CCBA , which was created out of a merger of SABMiller’s soft drinks business, the Coca-Cola company’s South African operations and Coca-Cola SABCO warned that the proposed tax would make it difficult for the group to meet its merger obligations as it would cause financial strain in an industry where fixed costs were already high.

South Africa’s pension fund in talks with SABMiller over AB InBev’s offer

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South Africa’s Public Investment Corporation (PIC), a state pension fund and SABMiller’s fourth-largest shareholder said on Wednesday it was in discussions with the brewer about an improved offer from Anheuser-Busch InBev (AB InBev), the fund said.

Wines of South Africa hold its 2016 Grand Tasting Event

It was all bubbles and clicking of wine glasses on Friday 15th July as the Wines of South Africa held its 2016 Grand Tasting Event. The wine show which is in its fourth year held at the Liquid Hub in Ikoyi, Lagos.

The event is meant to present South African wines to Nigerians in the trade, business executives, media and wine lovers to an evening of wine tasting.

JPMorgan ups potential of Coca-Cola HBC making a bid for newly formed African bottling group

Coca-Cola HBC has the potential to make a major acquisition, according to JPMorgan broker, Casenove. In a note examining the recent re-alignment in Coca-Cola bottling operations worldwide, Casenove noted the strategic value of Coca-Cola Beverages Africa (CCBA), which is widely speculated to be a possible takeover target of Coca-Cola HBC.