CHINA/S AFRICA: Distell takes majority control of CJ Wines & Spirits
Distell has acquired a 60% share in privately-owned Chinese distribution company CJ Wines & Spirits.
The South African company, which announced the purchase earlier today (3 September), said thet the Chinese firm will change its name to Distell China. CJ has been supplying Bisquit Cognac to the Chinese market since it acquired it in 2009. It also distributes Distell’s Amarula Cream liqueur.
No sum was disclosed for the acquisition. The new entity will look to develop its footprint in the strong Cognac markets of south China, before addressing others in Beijing, Shanghai and Chengdu.
CJ is based in Zhongshan in the Pearl Valley Delta of Guandong Province and has operations in Hong Kong, Macau and the mainland.
According to Distell's MD, Jan Scannell: “The new venture will carry spirits and wines from around the world, and that obviously gives us the scope to explore avenues for some of our other brands.”
Distell also has a number of wine distributors looking after their various wine brands, including ASC Wines from the Shanghai area.
The penultimate part of just-drinks' review of 2012 looks at a tumultuous year for the wine category....
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