MANILA, Philippines - A subsidiary of Andrew Tan's liquor company Emperador Inc. is investing P3.7 billion (60 million euros) to expand its brandy production in Spain.
In a statement, Groupo Emperador Spain said it has struck a deal to buy a 50% stake in Bodega Las Copas S.L., a brandy production company owned by Gonzalez Byass S.A., for P3.7 billion.
Bodega Las Copas has a vineyard near Toledo, distillery plant in Tomelloso, Ciudad Real, and a brandy production facility in Jerez.
Bodega Las Copas has a 275-hectare specialized vineyard project near Toledo, which is said to be the first to grow grapes exclusively for brand distillation and production.
"With González Byass and Grupo Emperador joining hands, we are combining more than 200 years of experience in brandy- and wine-making. By bringing together the markets of both companies, we have created a sizable global brandy market base that enables us to more aggressively pursue improvements in our brandy production, and invest in modern vineyard technology and innovation on a very large scale. This will give us a very good advantage in brandy production over others," Jorge Domecq Bohórquez, managing director of Emperador International, said.
Gonzalez Byass is one of the largest sherry, wine and brandy producers in Spain.
Last year, Grupo Emperador Spain S.A. acquired 509 hectares of vineyard in Toledo. This brings to more than 900 hectares of vineyard the company has so far bought in Spain.
Emperador is part of Tan's Alliance Global Group Inc., a conglomerate with interests in liquor, real estate, resorts and gaming, and fast food restaurants.