Distell managing director, Richard Rushton, said the sale of Uitkyk was part of the company’s efforts to streamline its asset portfolio, in a way that allows it to re-invest further into its business and achieve its growth aspirations.
The sale is said to be also consistent with Distell’s strategy to focus and increase its investment on a select portfolio of wine brands and assets.
Rushton said: “Our key focus brands, like Nederburg, Alto, Fleur du Cap, Plaisir de Merle and Durbanville Hills, have shown strong performance for the financial year-to-date and this reinforces the benefits of our more focused approach.”
He stressed that wine remained integral and pivotal to Distell’s long-term success and the sale of Uitkyk, presented the company with an opportunity to build this category with even greater scale.
Distell says it remains fully committed to growing the South African wine industry and playing a key role in the wine category.
