Streaming issues? Report here
Aubrey Masango 1500 x 1500 2020 Aubrey Masango 1500 x 1500 2020
The Aubrey Masango Show
20:00 - 00:00
volume_up
volume_mute

The Aubrey Masango Show
20:00 - 00:00
Home
arrow_forward
Business

Leading liquor distributor DGB (Boschendal, Douglas Green) sells majority stake

22 September 2020 7:29 PM
Tags:
The Money Show
Brait
COVID-19
liquor industry
wine and spirits
DGB
Tim Hutchinson
Capitalworks

Capitalworks and former DGB CEO Tim Hutchinson acquire majority shareholding. Hutchinson gives details on The Money Show.

DGB is a major player in both the local and international markets as a producer and distributor of wine and spirits.

Its majority shareholding has now been acquired from investment company Brait by asset managers Capitalworks and longtime DGB Group CEO, Tim Hutchinson.

Hutchinson, who now becomes chairperson, gives more details on The Money Show.

He describes the deal as the start of a new era.

Brait decided they wanted to realise some of their investments... It was probably time for me to think about moving on, but I've known the Capitalworks team for a long time... and we've got a great management team...

Tim Hutchinson, Chairperson - DGB

We've got a very good international footprint and we export... around the world and that's got huge growth potential.

Tim Hutchinson, Chairperson - DGB

Hutchinson expands on the announcement of the appointment of Ricardo Ferreira as Group CEO, and his own future role.

He's been with the company seven years... He joined us from SAB where he had a very successful career for 14 years, so he knows the business intimately.

Tim Hutchinson, Chairperson - DGB

I've invested alongside Capitalworks... but I'll play a non-exec chairman role and help the team and be a sounding board and they must grow the business.

Tim Hutchinson, Chairperson - DGB

Believe it or not, with the shutdown locally and internationally, wine consumption's increased... People who used to open a bottle of wine once or twice a week at home with their partners are now having at least a couple of glasses every night!

Tim Hutchinson, Chairperson - DGB

In Europe and in Holland and in Canada and our big markets, retail wine sales are up about 20%.

Tim Hutchinson, Chairperson - DGB

South African wines have always been too cheap internationally... That's not the future... South African wines at the top end are extremely good quality wines.

Tim Hutchinson, Chaiperson - DGB

Listen to the interview in the audio below:


22 September 2020 7:29 PM
Tags:
The Money Show
Brait
COVID-19
liquor industry
wine and spirits
DGB
Tim Hutchinson
Capitalworks

More from Business

happy-moneyjpg

Yes, money can 'buy' you happiness! But invest in experiences, not things

29 October 2020 8:43 PM

There's also a magic number beyond which more money doesn't equate to more happiness, says personal finance guru Warren Ingram.

Share this:
Read More arrow_forward

TikTok 123rf 123rfbusiness 123rfworld 123rflifestyle

TikTok signs first African influencer partnership with SA-inspired company

29 October 2020 8:24 PM

You could benefit as TikTok expands its African footprint. The Money Show interviews Webfluential CEO Ryan Silberman.

Share this:
Read More arrow_forward

20182210 VBS_9.jpg

VBS liquidation: More than 5,000 'small' depositors haven't claimed their money

29 October 2020 7:37 PM

The liquidation of the disgraced VBS Mutual Bank is gaining momentum. Bruce Whitfield speaks to Denzel Bostander from Sarb.

Share this:
Read More arrow_forward

Woman saving money piggy bank mask 123rf 123rfbusiness 123rflifestyle

Govt set to review Regulation 28 - 'not necessarily bad for retirement funds'

29 October 2020 6:51 PM

Are prescribed assets on the cards again? Bruce Whitfield interviews Emda Fourie (Momentum Consultants and Actuaries).

Share this:
Read More arrow_forward

Chicken funny 123rf

'Farmer Angus' lends money to staff to buy his egg business, boosted by Checkers

29 October 2020 11:28 AM

"We didn’t go to the bank. I vendor-financed it, forcing me to stay involved in the business," says Angus McIntosh (Farmer Angus).

Share this:
Read More arrow_forward

mtbps-2jpg

MTBPS: Inside the R500-bn fiscal relief package

29 October 2020 11:05 AM

Finance Minister Tito Mboweni has detailed initiatives by the government to provide fiscal relief worth more than R500 billion.

Share this:
Read More arrow_forward

car-insurancejpg

What happens if you've skipped an insurance payment and you're in an accident?

28 October 2020 8:25 PM

A policy holder has an automatic 15-day grace period. Make sure you know how it works, warns consumer ninja Wendy Knowler.

Share this:
Read More arrow_forward

Empty piggy bank broke 123rfbusiness 123rf

Govt to raise billions through tax revenue adjustments, but details sparse

28 October 2020 7:52 PM

Should taxpayers be worried? Bruce Whitfield interviews Le Roux Roelofse (Deloitte) after the Medium-Term Budget Policy Statement.

Share this:
Read More arrow_forward

123rf US Elections 2020

The two men that have correctly predicted most US elections

28 October 2020 7:15 PM

Will Donald Trump win again, the two men that correctly predicted it in 2016 weigh in on 2020

Share this:
Read More arrow_forward

201028 Mboweni1

SA faces debt trap warns Mboweni, departmental budget cuts to fund SAA bailout

28 October 2020 7:08 PM

Is National Treasury not robbing Peter to pay Paul? Bruce Whitfield gets reaction to the Medium-Term Budget Policy Statement.

Share this:
Read More arrow_forward