Capitalworks acquires stake in South African alcoholic beverages company

South African private equity firm Capitalworks and businessman Tim Hutchinson have bought a majority shareholding in alcoholic beverages producer and distributor DGB, according to a Fin24 report. The stake was acquired from JSE-listed investment company Brait.

DGB is involved in the production, bottling and distribution of wine and spirits in South Africa. The company also provides hospitality services which include accommodation, food or beverage offerings, wine tasting and venue hire for events to the public. Internationally, DGB mainly exports wine to more than 72 countries through direct shipments to agents and customers.