April 24, 2017 / 11:37 AM / 3 years ago

South Africa's Distell to buy 75 pct stake in Cruz Vodka

JOHANNESBURG, April 24 (Reuters) - South African wine and spirits maker Distell Group said on Monday it would buy a 75 percent stake in the Cruz Vodka brand from Blue Sky Brand Company.

Distell, which makes Savanna cider and Amarula cream liqueur, said Blue Sky would retain 25 percent of the brand and remain involved in it.

“The transaction strengthens Distell’s portfolio in the premium vodka category, one of the fastest growing spirits categories in South Africa and which is expected to continue exhibiting strong growth in the future,” the company said in a statement.

Distell, majority-owned by South African investment firm Remgro, did not provide financial details.

Blue Sky Brand Company, which was established in 2011, is a 100 percent family owned liquor company.

Its brands include Cruz Vodka, Pravda vodka, Magnum cream liqueur and Glendronach whisky. (Reporting by Nqobile Dludla; editing by Jason Neely)

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