Heineken Weighs Up Buying Distell, Manufacturer of Hunter's and Savanna

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.

Heineken weigh up on buying Distell, manufacturer of Hunter's and Savanna
Heineken are looking to purchase Distell, the manufacturer of Hunter's and Savanna. Image: Flickr
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".

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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

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