Heineken Weighs Up Buying Distell, Manufacturer of Hunter's and Savanna
- International brewer Heineken has approached local manufacturer Distell for a possible acquisition
- This is according to a statement released by the manufacturer of such drinks as Savanna and Hunter's
- Although no agreement has yet been made, it is worth noting that Distell is reportedly worth around a massive R31.8 billion on the market
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Heineken, the world’s second-largest brewer, has reportedly approached South African wine and spirits maker, the Distell Group. According to the local company, Heineken wants to buy a majority of their business.
Distell is no small-scale company, the manufacturing giant owns popular brands like Savanna, Hunter's and Klipdrift.
Source: Depositphotos
In a statement, Distell said that no agreement has been reached as yet, however "shareholders are advised to exercise caution when dealing in their Distell securities until a further announcement is made".
Distell is valued at R31.8 billion and a takeover from Heineken would be their biggest since 2018 when it partnered with a China-based beer manufacturer.
Due to the impact of the pandemic and other factors, Heineken took a hit in sales. The company is slowly emerging from the crisis. Earlier this year, the company released 8 000 employees.
Heineken has performed well in South Africa despite the ongoing alcohol bans. Should Distell agree to a deal with Heineken, the CEO of the international brewer, Dolf van den Brink, would see accelerated growth of a decades-long strategy implemented by predecessor Jean-Francois van Boxmeer.
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Source: Briefly News
