News

SOUTH AFRICA: Boschendal deal imminent

Most popular

Pernod is back in Kentucky, but why did it leave?

The opportunity for no-alcohol in the on-premise

Anheuser-Busch InBev Performance Trends 2014-2018

Which drinks companies will be hit by cool weather

Why brown spirits is behind low- & no-alc curve

MORE

One of South Africa's biggest wineries, Boschendal, will not be converted into a sprawling golf estate and is expected to have its agricultural rights entrenched.

A yet unnamed member of the Bacardi family, who forms part of a new international consortium, called Citation, is expected to sign the deal in the next two weeks after one or two minor aspects have to be clarified.

Don Tooth, MD of Anglo American Farms (a subsidiary of mining house Anglo American), confirmed that it was all but a done deal and that a South African and international consortium, including a black economic empowerment (BEE) partner, had been established to acquire Boschendal.

BEE group, Kovacs, which forms part of the South African component of the partnership buying Boschendal, will acquire a 30% stake in the operation. This is line with the ANC policy of black empowerment initiatives in the wine industry.

While it appears that there will be no golf course development, speculation still continues regarding Gary Player's (team captain for the international team that shared the President's Cup Golf Tournament with the USA over the weekend) role in the acquisition.

A low density, upmarket housing development would be permitted on land not suited to grape growing, but the integrity of the agricultural rights would be entrenched, said Tooth.


Sectors: Wine

Companies: Bacardi Ltd

Related Content

SABMiller, Coca-Cola Co, Coca-Cola Sabco get South Africa okay for Africa merger

SABMiller, Coca-Cola Co, Coca-Cola Sabco get South Africa okay for Africa merger...

Bacardi's Bacardi Coconut rum - Product Launch

Bacardi's Bacardi Coconut rum - Product Launch...

Bacardi’s Martini 0.0% Dolce sparkling drink - Product Launch

Bacardi’s Martini 0.0% Dolce sparkling drink - Product Launch...

Bacardi’s Martini Asti Ice - Product Launch - market data

Bacardi’s Martini Asti Ice - Product Launch - market data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?