Distell aims to go deeper into Africa
Liquor group has Ethiopia, Zimbabwe and Nigeria on the radar screen
Distell, the liquor group controlled by investment behemoth Remgro, is looking at more expansion opportunities in Africa after recording high double-digit growth in Kenya, Mozambique and Zambia in the interim period ending December. Speaking at an investor presentation on Friday, CEO Richard Rushton said Distell — which owns best-selling brands like Savanna, Hunters, Klipdrift, Nederburg, 4th Street, Cruz, Bernini and Amarula — was constantly reviewing opportunities for investments in new African markets. “Ethiopia is a big market that, along with Zimbabwe and Nigeria, is on our radar screen.” In recent years Distell has focused on building up its African presence markedly by capacity expansion and acquisitions. Rushton would not be drawn on what proportion of revenue and profits Distell hoped to generate in African markets over the longer term. “But East Africa is a central part of our growth plan.” If markets in Botswana, Lesotho, Namiba and Swaziland were excluded, Distell’s inte...
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