They produce drinks like Klipdrift and Savannah. Now, they have bought a 20% stake in a local dagga business.
As South Africa continues to face a devastating alcohol ban which is leaving liquor producers on their knees, Distell has made a move into the weed industry. Distell produces drinks like Savannah and Klipdrift. Now, they have bought a 20% stake in a local dagga business that produces CBD oils and beauty products. South Africa’s CBD market is estimated to double in value by 2024, making it a very lucrative investment. RETHINK, the CBD company, has also recently sold 20% of their company to Remgro. Distell has not revealed what they paid for the 20% ownership of the industry. They are hoping that the new investment will help them stay afloat while they cannot trade any alcoholic drinks.