Distell acquires 75% interest in Cruz Vodka
Distell Group has entered into a partnership with Blue Sky Brand Company (BSBC) by agreeing to acquire a 75-percent shareholding in the company that will own the rights to the Cruz Vodka brand – supposedly the fastest-growing luxury imported vodka in South Africa. BSBC will hold the remaining 25-percent shareholding.
Distell has said the deal will strengthen its portfolio in the premium vodka category - one of the fastest-growing spirits categories in SA. Meanwhile, Cruz Vodka is expected to benefit enormously from Distell's South African and Rest of Africa distribution network.
The transaction consideration represents less than five percent of Distell's market capitalisation.
Pictured: Distell CFO Lucas Verwey