Distell to offload struggling wine farms
The maker of Amarula and Nederburg is simplifying its structure and emphasising returns on invested capital
Distell, the only SA-owned and operated alcoholic beverages company, said on Thursday it planned to put more struggling wine farms on sale in a bid to improve financial performance.
In the six months ended December 31 2019, Distell’s wine sales came under pressure from huge discounts by beer competitors, according to CEO Richard Rushton. The wine business reported a 7% decline in interim revenues to R3.7bn...