Deerfield-based Beam Suntory is selling its Spanish brandy and sherry businesses to the Filipino brandy giant Emperador for $291 million, Beam announced Monday.
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Fundador produces popular brandies including one of the same name and the Terry Centenario and Tres Cepas brands.
“In our pipeline are several proudly Philippines-made products that we intend to introduce to the worldwide markets starting next year”, Emperador president Winston Co was quoted as saying.
Emperador Brandy accounts for seven out of 10 liquor bottles sold in Manila, the firm has claimed. Emperador was advised by Nomura (sole financial advisor), Allen & Overy (legal advisor) and KPMG (accounting advisor).
These are not the first big brands that Beam Suntory has off-loaded this year, having sold its Louis Royer Cognac business to France’s Terroirs Distillers for €100 million (£74m) earlier this year. Brands include Jura and The Dalmore.
The deal follows Emperador’s acquisition of Whyte & Mackay from United Spirits last May for £430 million.
Whyte & Mackay also holds one of the world’s largest aged whisky inventories.
The group has a production capacity of 50 million liters of alcohol per annum with five distilleries and one bottling plant in Scotland. It was created previous year by Suntory’s £9.3 billion acquisition of Beam.
“Our teams in Jerez and Tomelloso are outstanding, and I am confident that the operations and the brands produced there have a very bright future as part of Emperador Inc“.
Emperador is a wholly-owned subsidiary of Tan’s Alliance Global Group Inc., a conglomerate with interests in liquor, real estate, resorts and gaming, and fast food restaurants.
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The acquisition included the SAN BRUNO trademark, which has been registered since 1942. It also makes Harveys, a sherry.
