The government’s four bans on alcohol sales since the start of the Covid-19 pandemic in March 2020 have not completely dented the investor appetite for acquisition opportunities in South Africa’s beaten alcoholic beverages industry.
This is judging from the move by the Dutch brewing company Heineken, which has expressed an interest in acquiring SA-based Distell, the maker of brands including Klipdrift brandy, Savanna cider, JC le Roux sparkling wines and Amarula liqueur.
Distell told investors on Tuesday that its share price could be affected by the acquisition talks with Heineken. And indeed, its share price jumped by as much as 10.4% to R158 during Tuesday’s intraday trade – levels last seen in November 2017.
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