File: Cannabis. Pixabay/herbalhemp
JOHANNESBURG - Alcohol companies are diversifying in the wake of the crippling booze ban.
The country’s leading producer of spirits Distell, has invested in the cannabis market.
It has bought a 20-percent stake in the local brand Rethink, which produces a wide range of dagga-based products, including cannabis oils, teas, and skincare items.
During the first lockdown-related alcohol ban, Distell reported its domestic sales fell by almost a fifth in the year to August.
It lost some 100 million litres in sales volumes and an estimated R4.3-billion in revenue due to the lockdown.