MANILA, Philippines - Emperador Inc., the liquor unit of Alliance Global Group Inc. (AGI), confirmed it is in talks to acquire the spirits business of whisky maker Whyte and Mackay in the United Kingdom.
"We confirm that Emperador Inc. is in ongoing discussions with United Spirits (Great Britain) Ltd. regarding Emperador’s interest in purchasing the Whyte and Mackay spirits business in the United Kingdom," the company told the Philippine stock exchange.
Bloomberg last week reported that the Diageo Plc's United Spirits Ltd. (UNSP) is in talks with Emperador for the sale of the Whyte & Mackay spirits business.
Bloomberg said the transaction "may value the whisky maker at about 400 million pounds ($675 million)."
Emperador said no agreement has been reached yet.
"Emperador is constantly on the look-out for opportunities to expand its liquor business both domestically and globally," it said.
Last March, Emperador Distillers Inc. has signed a "cooperation agreement" with Diageo.
Diageo is the world's leading premium drinks business with a wide array of beverage alcohol brands across spirits, beer and wine. These brands include Johnnie Walker, Crown Royal, JεB, Windsor, Buchanan’s and Bushmills whiskies, Smirnoff, Cîroc and Ketel One vodkas, Baileys, Captain Morgan, Tanqueray and Guinness.
Emperador is part of Andrew Tan's AGI, a conglomerate with interests in liquor, real estate, resorts and gaming, and fast food restaurants.