Distell Group launches new premium wine company

SOUTH AFRICA - Africa’s leading wines and spirits producer and wholesaler, Ditsell Group Limited has launched Libertas Vineyards and Estates as a new stand-alone company with ownership of all its premium brands, reports IOL Business Libertas Vineyards and Estates managing director, Kay Nash said the move marks a significant shift from the company’s previous approach…

AB InBev’s ZX Ventures invests in US-based tech firm Pensa Systems

USA – ZX Ventures, a venture capital arm of AB InBev has invested in Pensa Systems, a US developer of a new retail inventory visibility system as part of US$5 million funding round. Patrick O’Riordan, vice president of explore at ZX Ventures, said that Pensa’s approach to Consumer Packaged Goods (CPG) inventories is a unique…

AB InBev to refinance US$100b debt through mega bond sale

SOUTH AFRICA – Multinational brewer, Anheuser-Busch InBev (AB InBev) plans to sell senior unsecured bonds in six parts presenting one of the biggest bond sales of the year as it seeks to refinance part of its US$100 billion debt load. According a report by Bloomberg, the sale comes in line with a tender offer of…

NSE downgrades Nigerian Breweries stock to medium-priced status

NIGERIA – The Nigerian Stock Exchange (NSE) reclassified Nigerian Breweries Plc stock from its previous high-priced stock to medium-priced stock following a fall of the brewer’s stock price below the required High-Priced Stock threshold. According to Beverage Industry News, NSE issued a circular that the downgrade was as a result of a review it conducted…

Grover Vineyards to buy wineries of United Spirits and HCC for US$9.4m

INDIA - Grover Zampa Vineyards, the second largest winemaker in India is set to acquire the wine assets of United Spirits (USL) and Hindustan Construction Company (HCC) for US$9.49 million to bolster its sales in the region, reports Times of India. Grover Zampa, backed by I-banker Ravi Viswanathan, a French national based in Singapore is…

European investors pump US$12.4m in a new liquor plant in Ethiopia

ETHIOPIA - European investors have pumped US$12.44 million into the establishment of a new liquor factory, Komari Beverages Plc in Amhara Regional State, reports the AddisFortune. Komari Beverages Plc, the 13th liquor processing plant in the country will have a production capacity of bottling and packaging 27,000 bottles an hour, processing whiskey, rum and vodka.…

Zimbabwe’s Delta Beverage reverses forex decision as RBZ promises to provide currency

ZIMBABWE - Delta Beverages, a subsidiary of Delta Corporation has reversed its decision to sell its products in foreign currency after the Reserve Bank of Zimbabwe (RBZ) assured the country’s leading beverage manufacturer that it would provide the forex required to fund its import requirements. The decision to reverse the notice was made after Vice…

Skol Brewery unveils new ‘Skol Select’ beer, grows market by 20%

RWANDA – Skol Brewery Rwanda Limited, a local beer manufacturer in Rwanda, reported a growth in its market share by 20% in 2018 from 5% in 2010, reports New Times. Ivan Wulffaert, the company’s General Manager said the growth in market share is largely due to Rwandan customer base development in increased consumption of the…

Wine and spirits firm Pernod Ricard acquires stake in Jumia to grow footprint in Africa

AFRICA – French beverages distillery and the world’s second largest wine and spirits company has said that it has invested in Jumia, the leading ecommerce player for an unspecified stake to strengthen its position in spirits and wines on the continent. The investment in Jumia strengthens their partnership and will see Pernod Ricard, which is…

AB InBev credit rating downgraded as it struggles to pay US$100b debt, report

SOUTH AFRICA - Anheuser-Busch InBev (AB InBev), an international brewing company's credit rating has been downgraded to the lowest tier of investment-grade following Moody’s warning that the company is struggling to pay its US$100 billion debt load. According to Moody’s Investor Service, a US based credit firm, the brewer’s Senior Unsecured debt ratings were lowered,…