Johannesburg - Distell Group [JSE:DST] has acquired a 75% interest in Cruz Vodka.
Distell has entered into a partnership on Cruz Vodka with Blue Sky Brand Company (BSBC) by agreeing to acquire a 75% shareholding in the company that will own the rights to the Cruz Vodka brand and business worldwide.
BSBC will hold the remaining 25% shareholding and will be integrally involved in the Cruz Vodka brand going forward.
According to a statement by Distell, Cruz Vodka is the fastest growing luxury imported vodka in South Africa and has strong quality credentials.
Cruz Vintage Black Vodka has won numerous gold medals at international competitions such as London Vodka Masters, Consumer Choice Awards USA, SIP Awards USA and Fifty Best Vodka's New York.
Made from hand selected American wheat, Cruz Vodka is available in Vintage Black and four flavoured varietals.
Distell said the transaction strengthens its 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.
Cruz Vodka is expected to immediately benefit from Distell's distribution network in South Africa and the rest of Africa.
The transaction consideration represents less than 5% of Distell's market capitalisation.