Liquor distributor The Keepers Holdings Inc. (Keepers) said it is buying half of brandy maker Bodegas Williams & Humbert SA for 88.75 million euros of P5 billion.
Bodegas Williams & Humbert is the manufacturer of brandy Alfonso. Located in Jerez de la Frontera, Spain and founded 140 years ago, it produces a variety of wine and spirits specially sherry and is the leading producer of light brandy.
Keepers told regulators it signed the share purchase agreements for the acquisition Wednesday.
“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 company said.
The Keeper said it will 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.
