The Keepers Holdings Inc. is acquiring 50 percent of brandy maker Bodegas Williams & Humbert SA, manufacturer of Alfonso Brandy.
The company did not provide the cost of the transaction but it has build a kitty of P4.5. billion from a follow-on offering in November last year, part of which it said will be used for “strategic acquisition opportunities and expansion of product portfolio,” among others.
Accounting firm Isla Lipana & Co., an affiliate of global auditing firm PricewaterhouseCoopers (PwC), rendered a fairness opinion on the transaction.
“No pricing and details have been approved yet, pending the release of PwC’s fairness opinion. The company will disclose more information about the transaction in due course,” it said.
Bodegas Williams & Humbert is a Spanish company with over 140 years of history producing alcoholic beverages.
Its product Alfonso is a leading imported brandy in the Philippines. It accounts for 60 percent of The Keepers’ revenue. – Ruelle Castro
