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Surging Alcohol Sales Show Why Heineken Wants to Buy South African Distiller

  • Dutch brewer’s final steps to buy Distell are going smoothly
  • Pandemic-induced glass shortages likely for another year
    

    

Photographer: Akos Stiller/Bloomberg

Updated on

Distell Group Holdings Ltd. boosted revenue in South Africa and across the continent as a deal between the country’s biggest wine exporter and Heineken NV goes through a regulatory approval process.

Heineken’s offer of about 2.3 billion euros ($2.6 billion) for Distell got 94% support from local shareholders last week, and the final steps to buy the wine, brandy, liqueur and whisky maker are going smoothly, Chief Executive Officer Richard Rushton said in an interview Thursday.