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Beam Suntory to sell brandies to Emperador for €275m
Beam Suntory has announced it has entered into an agreement to sell its Jerez-based brandy and Sherry business to Philippines drinks group Emperador.
Terry Centenario is one of the brandy and Sherry brands to be offloaded by Beam Suntory
The all cash, €275 million deal includes the Fundador, Harveys, Terry and Tres Cepas brands, as well as production operations in Jerez and Tomelloso, Spain.
“A recent review of our portfolio of brands and supply chain footprint led us to believe that our Spain-based brandy and Sherry business could be of greater value to another company,” said Steve Fechheimer, head of strategy and corporate development at Beam Suntory.
“Our teams in Jerez and Tomelloso are outstanding, and I am confident that the operations and the brands produced there have a very bright future as part of Emperador Inc.”
Winston Co, president of Emperador, added: “We are very excited about adding the iconic brands of Fundador (the Philippines’ premier imported brandy brand), Terry Centenario (Spain’s number one selling brandy), Tres Cepas (number one brandy in Equatorial Guinea) and Harveys (number one selling sherry wine in the United Kingdom) to the Emperador portfolio.
“We look forward to continuing to invest behind the acquired brands, welcoming the transferring employees to Emperador and engaging with the local community.”
Rabboback acted as the sole financial advisor to Beam Suntory, with Uria Menendez the legal advisor, and Deloitte the accounting advisor. Emperador was advised by Nomura (sole financial advisor), Allen & Overy (legal advisor) and KPMG (accounting advisor).
Emperador, the world’s largest brandy producer, is the liquor unit of consumer-centric conglomerate Alliance Global Group, Inc. which purchased Whyte & Mackay from Diageo in November last year.