Distell, one of Africa’s leading producers and marketers of spirits, wines and ciders has announced the acquisition of 26.43 per cent shareholding in Kenya Wine Agencies Limited (KWAL) from Centum Investment Company.
KWAL is a manufacturer, exporter, importer and distributor of wine, spirits and ready-to-drink beverages in Kenya known for its leading local brands including Kibao, Kingfisher and Caprice.
KWAL is the distributor of Distell’s brands such as Viceroy, Cellar Cask and Amarula in Kenya.
In 2014, Distell acquired a 26 per cent stake in KWAL from Industrial and Commercial Development Corporation (ICDC) through a privatization process by the Kenya government.
This new acquisition brings the South African company’s shareholding in KWAL to a majority of 52.43 per cent.
Distell said in a statement, “Spirits has been the fastest growing segment of Kenya’s alcoholic beverage industry and growth is anticipated to remain robust going forward.”
The two companies will continue working together to identify and unlock other available opportunities for business growth in the future.
Donovan Hegland, Managing Director, Distell has been quoted saying the group is strategizing geographical expansion on the continent through acquisitions of and/or partnerships with leading regional players.