Distell buys stake in cannabis business Rethink

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.

READ: SA warned against illegal, unregulated CBD products

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.

Source
eNCA

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