SUMMARY
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MANILA, Philippines – Emperador, the Philippines’ largest liquor-maker, said Friday it has increased its investments in Spain by acquiring half of brandy producer Bodega Las Copas for 60 million euros ($82 million, P3.7 billion).
The deal with Spanish sherry, wine, and brandy-maker Gonzalez Bypass further cements Emperador’s push into Spain as the first step in making its brandy a global concern, a company statement said.
The partnership will create a “sizeable global brandy market base that enables us to more aggressively pursue improvements in our brandy production,” said Jorge Domecq Bohorquez, managing director of its unit Emperador International.
Emperador is already one of the world’s biggest brandy producers, but most of its output is sold in its home market. (READ: Tan-led Emperador buys more vineyards in Spain)
It said last year it was going to spend $132 million on vineyards and brandy stocks in Spain in order to build an international brand.
Emperador is a wholly-owned subsidiary of Alliance Global Group, a Philippine conglomerate with interests in liquor, real estate, resorts and gaming, and fast food restaurants. – Rappler.com
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