Distribute is a MaxforLive device that improves the workflow of dealing with multi-channel plugins in Ableton Live by automatically creating, renaming, and routing additional audio and MIDI tracks according to the multi-channel plugin you're using. 

By removing the hassle and automating the necessary steps to properly create auxiliary tracks, Distribute let's you save time and CPU power by enabling you to work with fewer instances of the same plugin.
You could, for example, load multiple instruments into the same instance of Native Instrument's Kontakt and use Distribute to automatically create separate MIDI and Audio tracks for those instruments.

You also have to option to create a bus track (to group those multiple channels back together) and to change the pattern that Distribute uses for naming the tracks it creates.