Tag Archives: Remgro

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

April 27, 2017   Editor   No comments

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.

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AB InBev to sell Distell stake

December 15, 2016   Editor   No comments

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).

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

September 28, 2016   Editor   No comments

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).

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