Investors will pay a fairly stiff premium for a round of shares in liquor conglomerate Distell, which, to be honest, has not posted cork-popping numbers in the past few years. The company has been steady rather than spectacular, but sentiment has been fortified around the global possibilities that CEO Richard Rushton (ex-SABMiller) and anchor shareholder Remgro can bring to the party.Distell’s profit base has largely been underpinned by the enormous success achieved in the cider category over the past two decades. Distell created the local cider category, and it dominates the market with its bestselling Hunter’s and Savanna brands. Such are the volumes in SA and Africa that Distell is the second-biggest cider company in the world (behind Heineken, owner of the Strongbow brand).In its latest annual report, Distell reiterates its aspiration to become the number one cider company in the world. With Remgro and the Rupert family (who both know a thing or two about building global busines...
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