B riefs usiness Heineken gets nod to proceed with Distell deal
The Competition Commission on Friday approved Heineken’s acquisition of Distell Group as long as the merged entity invests more than R10billion over five years in South Africa.
Another condition is that Heineken must sell its Strongbow business in South Africa and in other SACU (Southern African Customs Union) countries.
The Dutch brewer Heineken announced its intention to take over Distell in a multi-billion-rand deal. Distell are producers of popular alcoholic beverage brands like Savanna and J C le Roux. Distell, which also produces 4th Street, Bernini and Hunter’s amongst other brands employs approximately 4 400 people and has an annual turnover of R26.1-billion.
The transaction will also see Heineken acquire Namibia Breweries Limited, producers of brands such as Windhoek Lager and Tafel Lager.