MANILA, Philippines — The Andreson Group Inc., led by business magnate Andrew Tan, keeps acquiring stakes from the publicly traded global cognac and whiskey company Emperador Inc. This brings their acquisition tally over the last three days close to PHP 1 billion.
Yesterday, in a stock exchange submission, Emperador stated that an affiliate named The Andersons Group acquired a total of 25 million common shares from the open market on May 21 at a price of ₱13.30 each.
This transaction comes after two distinct acquisitions on May 19 and May 20, where 50 million shares were bought each day for P13.32 per share.
The three-day transactions totaling P998.5 million have increased The Andersons Group’s stake to 75 million shares, representing 0.48 percent of Emperador’s outstanding shares.
The Andresons Group is led by Tan, who also heads Emperador.
"This reflects Andrew Tan's firm belief in the promising future of Emperador's business operations and possibly indicates that he sees substantial potential gains above his purchase cost," remarked Juan Paolo Colet, managing director at China Bank Capital Corp.
Emperador is stepping up its worldwide growth by adding more vineyards in Spain through an extra 470 hectares of land, extending its reach into Mexico, and increasing its distillery capacity twofold in Scotland.
The anticipated expansion of its vineyards in Spain is likely to considerably increase its grape production capability, which presently amounts to around 17 million kilograms annually.
In the United Kingdom, Emperador’s development of The Dalmore distillery in Alness, Scotland, is ongoing and aims to increase the brand’s output twofold. Additionally, this project will introduce an enhanced visitors’ experience.
The firm is enlarging its whiskey aging facility at the Invergordon distillery, which will double its size from 45.4 to 92 hectares.
In the meantime, Emperador’s latest purchase via its subsidiary Casa Pedro Domeq has strengthened the company’s position within Mexico’s alcohol market.
The firm anticipates having its recently obtained mezcal labels Los Danzantes and Alipus accessible in the Philippine market before the end of this year.
During the initial three months, Emperador reported a 7% increase in net income compared to the previous year, reaching P1.85 billion, thanks to reduced costs.