MANILA, Philippines – Emperador Inc., the liquor unit of Alliance Global Group Inc. (AGI), is targeting to double its net income by 2016-17 from last year's P5.8 billion through domestic and global expansions.
The firm said the expansion is part of its strategy of diversifying and strengthening its liquor product portfolio as well as its premiumization strategy in the liquor industry.
Emperador president Winston Co, meanwhile, has been directed by the board to appoint global investment banks to advise the company towards the planned expansion.
The banks will also advise the firm in raising money through debt market of up to 70 percent of the company's stockholders' equity.
On Monday, Emperador 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.
Emperador is part of Andrew Tan's AGI, a conglomerate with interests in liquor, real estate, resorts and gaming, and fast food restaurants.