Stellenbosch liquor giant Distell hopes to fortify acquisitive growth prospects following a long-anticipated relisting of the company without its convoluted control structure on the JSE on Friday. Distell - owner of bestselling brands Fourth Street, Nederburg, Savanna, Hunters, Klipdrift and Amarula - was "relisted" after the collapse of its archaic ownership structure embedded in Capevin Holdings. Capevin held a 29% stake in Distell as its only investment, and served no purpose other than passing on Distell's dividends to its shareholders. The process was a prolonged affair, taking nearly a year to finalise. Although the relisting was essentially a ceremonial exercise with no real changes to the operational assets that were originally listed under Distell, there could be key implications over the longer term. One tangible change is that the company sheds its Distell tag - which dates back to the merger of Distillers Corporation and Stellenbosch Farmers Winery in the late 1990s - in...
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