Remgro-controlled liquor conglomerate Distell, which airms to double revenue and profits by 2021, is selling long-held wine farms and wine brands as executives look to markedly improve a modest return on assets. Speaking at an investment presentation on results for the year to June on Thursday, CEO Richard Rushton said Distell had already sold the La Bonheur and Stellenzicht wine farms and brands — both formed part of the Lusan premium wine estate. Rushton said the company’s premium wine offering would concentrate on four key brands: Nederburg, Fleur du Cap, Alto and Durbanville Hills. Allersverloren and Plaisir de Merle were likely to be retained. Distell owns an array of best-selling wine brands, including premium brands such as Zonnebloem, Uitkyk and Jacobsdal. Rushton said the honing of the wine portfolio was a significant decision with certain farms and brands enduring a five-decade relationship with Distell. But he was reluctant to divulge further detail on the process: "You c...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now