The Keepers buying up to 50% stake in Spanish alcoholic beverage firm
Lucio Co-led The Keepers Holdings Inc. expressed its intent to buy up to 50-percent stake in the Spanish alcoholic beverage producer of popular imported brandy Alfonso.
In a disclosure on Tuesday, the listed company said that its board of directors had greenlighted on Aug. 26 the plan to acquire shareholdings in Bodegas Williams & Humbert SA.
Isla Lipana & Co. was tapped to provide a fairness opinion for the said transaction.
Bodegas Williams & Humbert, which has more than 140-year experience in making alcoholic beverages, also produces rum, vodka, wine and gin, among others.
Alfonso is the listed liquor firm’s flagship brand, which accounts for 60 percent of its total revenue.
In the first half, Keepers sold 2.11 million cases of liquors, 1.57 million of which was accounted for by its brandy segment.
Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.
