Dutch Brewing Company Heineken Makes Move To Buy South African Beverage Company Distell
Dutch Brewing Company Heineken Makes Move To Buy South African Beverage Company Distell. The Dutch brewing giant is interesting in buying the majority of the local wine and spirits group. Distell Group’s shares rose more than 10% at their best yesterday after it said Heineken was keen on buying control of the company.
In a cautionary announcement, Distell said the Dutch brewing giant had approached it regarding the potential acquisition of the majority of its business. Distell owns a diverse portfolio of drinks including wines, spirits and ready-to-drink beverages, including the popular Savanna and Hunters cider brands. While SA remains its largest market, it has growing operations across the rest of the continent and exports its drinks to international markets too. According to Ince Connect, Its biggest shareholders include Remgro Limited and the Public Investment Corporation, each with over 30% of its stock. Remgro holds 56% of total voting rights.
The parties have entered into discussions which, if successfully concluded, may have an effect on the price of the company’s securities. Distell told Ince Connect that, “Bearing in mind that there can be no certainty that an agreement will be reached, shareholders are advised to exercise caution when dealing in their Distell securities until a further announcement is made.”
Heineken is a pale lager beer with 5% alcohol by volume produced by the Dutch brewing company Heineken N.V. Heineken beer is sold in a green bottle with a red star. According to Ince Connect, Heineken announced job cuts in South Africa and put investment on hold due to the alcohol bans implemented during the various Covid-19 lockdowns.
Since 1975, most Heineken brand beer has been brewed at their brewery in Zoeterwoude, Netherlands. In 2011, 2.74 billion litres of Heineken brand beer were produced worldwide, while the total beer production of all breweries fully owned by the Heineken Group over all brands was 16.46 billion litres globally. Heineken has been sold in more than 170 countries. They have also been incorporated with numerous beer brands in countries all over the world including Mexico, China, Australia and various countries in Africa.
