THE Keepers Holdings Inc. (Keepers), owned by billionaire Lucio Co, has acquired a 50 percent equity interest in Spanish liquor maker Bodegas Williams & Humbert SA for 88.75 million euros.
The country’s imported liquor distribution on Wednesday, Sept. 14, executed a share purchase agreement covering the acquisition.
“The Keepers’ acquisition of 50 percent equity interest in Bodegas Williams & Humbert SA represents a strategic long-term investment that will enhance the competitive position of the group and strengthen its hold and secure the company’s supply line of its flagship brand and category, ‘Alfonso’ brandy,” the publicly listed firm said in a stock exchange disclosure.
The company said it will also transform the company’s business model from a pure trading to a manufacturing and distribution one, and provide an opening into markets outside the Philippines. The equity investment will also be bottom line accretive from its share in the future net income of Bodegas Williams & Humbert.
The consideration amounts to 88.75 million euros and is based on the independent valuation undertaken by PricewaterhouseCoopers. The payment is in cash and would be paid upon signing the purchase agreement and completing other legal requirements.
Bodegas Williams & Humbert SA is a respected family-owned winery in Jerez de la Frontera, Spain, founded 140 years ago. A forward-looking company producing a wide variety of wine and spirits specially sherry and is the leading producer of light brandy. The company distributes its products in Spain and in 50 countries worldwide. It has been producing Alfonso, the Keepers’ biggest brand and the number one imported brandy in the Philippines for more than two decades. The Alfonso brand also accounts for 60 percent of the Keepers’ revenue.
The total asset of Bodegas Williams & Humbert as of Dec. 31, 2021 amounted to 124 million euros.
For over twenty years, Keepers has brought to Filipino consumers the leading international brands of spirits, wines, and specialty beverages. These iconic brands include Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds, Red Bull, and many others.