Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Distell to Buy Burn Stewart Distillers for Up to $244m

April 15 (Bloomberg) -- Distell Group Ltd., South Africa’s biggest wine and spirit producer, plans to acquire Scotch whisky producer Burn Stewart Distillers Ltd. for as much as 2.2 billion rand ($244 million).

The company entered into a binding agreement with CL World Brands Ltd. and Angostura Ltd. for Burns Stewart, which owns three malt whisky distilleries, Stellenbosch-based Distell said in a statement today. Distell will make an initial payment of $229 million, net of assumed liabilities, and a contingent payment of as much as $15 million.

Scotch whisky exports increased 87 percent to 4.3 billion pounds ($6.6 billion) in the past decade, Distell said, citing the Scotch Whisky Association. Single malt exports gained 190 percent to 778 million pounds in the same period.

“The acquisition of Burns Stewart provides Distell access to this highly attractive growing category,” the company said. “Burn Stewart’s strong presence in the U.K., Taiwan and other countries provides Distell with enhanced sales platforms and route-to-market opportunities.”

To contact the reporter on this story: Christopher Spillane in London at cspillane3@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.