Connect with us

Hi, what are you looking for?

News

The Keepers to acquire 50% stake in Alfonso maker

PHOTO FROM THEKEEPERS.COM.PH

THE Keepers Holdings, Inc. is acquiring up to 50% of the total shareholdings of Alfonso brandy producer Bodegas Williams & Humbert, SA.

In a disclosure on Tuesday, The Keepers said that its board of directors approved the plan to buy half of the Spain-based winery firm’s shares on Aug. 26.

It has appointed Isla Lipana & Co. “to render fairness opinion on the intended transaction.”

“No pricing and details have been approved yet, pending the release of Isla Lipana’s fairness opinion,” the company said in a press release.

The company further said that it would disclose more information about the transaction in due course.

Bodegas Williams & Humbert has over 140 years of history in producing alcoholic beverages. It is the producer of the Alfonso brand, which The Keepers said accounts for 60% of its revenues.

In the second quarter, The Keepers’ net income after tax rose to P648.24 million, a 43.7% increase from the P451-million profit recorded in the same period last year.

The company’s top line in the second quarter increased by 30.2% to P3.31 billion from the P2.54-billion net sales recorded a year ago.

Year to date, the company’s net income climbed to P980.75 million, 39.5% higher than last year’s P702.81 million.

Its net sales in the first semester increased to P5.48 billion, 27.4% higher than the previous year’s P4.3 billion.

Its brandy category, driven by The Keepers’s flagship brand, Alfonso, recorded a 17.1% increase in sales volume in the first half to 1.57 million cases sold from 1.34 million cases last year.

The wholly owned subsidiaries of Keepers are Montosco, Inc., Meritus Prime Distributions, Inc., and Premier Wine and Spirits, Inc.

The Keepers is a subsidiary of Cosco Capital, Inc., the holding company of businessman Lucio L. Co who has business interests in retail, real estate, wine and liquor, and oil and minerals.

Cosco’s subsidiaries include Puregold Price Club, Inc.; Kareila Management Corp.; Office Warehouse, Inc.; Ellimac Prime Holdings, Inc.; and Alcorn Petroleum and Minerals Corp.

On the stock exchange on Tuesday, shares in Keepers Holdings rose by 3.25% or P0.04 to P1.27 apiece. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

PHILIPPINE STAR/ MICHAEL VARCAS WASHINGTON D.C. — The United States is seeking to form a coalition of countries to drive negotiations on a global...

News

Buildings are seen along EDSA in Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN By Diego Gabriel C. Robles  THE WORLD BANK (WB) upgraded...

News

Heavy traffic is seen on the southbound lane of EDSA in Cubao, Quezon City. — PHILIPPINE STAR/ MIGUEL DE GUZMAN THE PHILIPPINE auto industry’s...

News

REUTERS THE BANGKO SENTRAL ng Pilipinas (BSP) may deliver a second off-cycle rate hike in early November when the US Federal Reserve is expected...

News

Vendors arrange their goods at a public market in Manila. — PHILIPPINE STAR/ RUSSEL A. PALMA THE ASIAN Development Bank (ADB) is planning to...

Editor’s Pick

With the reversal of the 1.25% rise in National Insurance Contributions happening on the 6th of November, employers across the nation have an opportunity...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.