Billionaire Johann Rupert’s Heineken venture reconsiders its wine ambitions

Cape Town – Dutch brewing giant Heineken is reviewing its South African wine business, including household names Nederburg and JC Le Roux, just three years after acquiring Distell in a multibillion-euro deal involving billionaire Johann Rupert’s investment group, Remgro.

The review raises questions about the future of the wine brands as Heineken seeks to revive growth in South Africa, where wine sales remain under pressure despite stronger performances in beer and ready-to-drink beverages.

According to Billionaires.Africa, Heineken chief financial officer Harold van den Broek confirmed the review during the company’s third-quarter trading update.

“We are not making rash decisions on what to do, but we do have it under strategic review,” van den Broek said.

He added that how the company would compete in certain wine segments “is an active discussion with our South Africa business”. Heineken has not disclosed which options it is considering or confirmed whether a sale is being contemplated.

The development was also reported by Moneyweb and BusinessTech, both of which highlighted the contrasting performance of the company’s wine and beer operations.

Heineken acquired Distell in a €2.2-billion transaction, valued at approximately R40.8 billion at the time, completed in 2023. The deal combined Distell and Namibia Breweries with Heineken’s existing South African operations to form Heineken Beverages.

The acquisition was intended to strengthen the group’s regional footprint and expand its portfolio across beer, wine and spirits. However, the enlarged business subsequently faced integration difficulties and market-share losses.

As reported by Moneyweb, Heineken recorded a €491-million impairment on the business in 2023, less than a year after completing the acquisition. Former chief executive Dolf van den Brink later acknowledged that the company had “dropped the ball on a couple of commercial elements”.

While beer and ready-to-drink volumes in South Africa grew by double digits in the third quarter, wine continued to struggle.

“We are really working very hard to bring volumes back into our business in South Africa,” van den Broek said.

Implications for Johann Rupert’s Remgro

Rupert’s Stellenbosch-based investment group, Remgro, holds an 18.8% stake in Heineken Beverages, giving it a significant interest in the performance of the combined business.

According to Billionaires.Africa, Remgro valued its stake at R7.15 billion at the end of June 2026, up from R6.74 billion a year earlier. However, the investment group reported softer trading in wine and spirits, while revenue at Heineken Beverages declined by a low single-digit percentage in the six months to June, largely because of lower exports.

The review comes despite efforts to revitalise key wine labels. Heineken Beverages has already refreshed Nederburg’s packaging and invested in its Paarl wine destination, with plans previously announced to give Durbanville Hills similar attention.

For now, Heineken has not announced any sale or disposal of its South African wine brands. The review signals that the brewer is reassessing how wine fits into its portfolio as its new leadership pursues more consistent growth.

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