THE Keepers Holdings Inc., owned by billionaire Lucio Co, announced it will take over Bodegas Williams & Humbert (W&H), the Spanish maker of its biggest liquor brand, Alfonso brandy.
“On August 26, 2022, the Board of Directors of The Keepers Holdings Inc. approved the plan to acquire up to 50 percent of the total shareholdings of Bodegas Williams & Humbert, SA,” the company said in a stock exchange disclosure on Tuesday.
The firm has appointed Isla Lipana & Co. (PwC) to render a fairness opinion on the intended transaction. No pricing and details have been approved yet, pending the release of PwC’s fairness opinion, the company said. “The company will disclose more information about the transaction in due course,” it said.
W&H is a Spanish company with over 140 years of history producing alcoholic beverages. It is the producer of “Alfonso,” the number one imported brandy in the Philippines, and which accounts for 60 percent of The Keepers’ revenue.
The imported liquor distributor is a member of the Cosco Capital Group and affiliated with the Puregold retail chain.