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Emperador plans $125m expansion
Philippine producer Emperador, owner of The Dalmore, will invest US$125 million into expanding its Scotch whisky and brandy production.
The publicly listed firm is the owner of the world’s biggest brandy brand, Emperador, and Scotch whisky maker Whyte & Mackay.
According to a listing on the Philippine Stock Exchange, Emperador will allocate P7 billion Philippine pesos (US$125m) to expand its operations, and upgrade machinery and facilities.
The firm said it would spend P6bn (US$107m) on whisky to meet ‘growing demand’, while the remaining amount will be used to upgrade brandy production facilities across the Philippines, Spain, and Mexico.
Emperador’s whisky division delivered ‘high growth’ with sales increasing at a compound annual growth rate (CAGR) of 18% from 2020 to 2022.
It also noted that upgrades were ‘necessary’ at Emperador’s five Scottish distilleries to scale operations.
Emperador operates four single malt sites – The Dalmore, Fettercairn, Jura and Tamnavilin – under its Whyte & Mackay arm. It also owns a grain distillery.
In May 2022, Whyte & Mackay submitted a planning application to expand The Dalmore distillery.
Double-digit sales
The investment was announced at the same time as the firm’s financial results for 2022 and the first three months of 2023.
In 2022, Emperador saw revenue increase by 12% to P62.8bn (US$1.1bn). Sales for the first quarter of this year climbed by 26% to P15.6bn (US$280m).
The company attributed the growth in part to its ‘strong’ international business.
Emperador is present in more than 100 countries and the firm saw growth in all markets, particularly in Asia, North America, Mexico, and Europe.
The firm said it had ‘actively’ entered new territories as part of its international strategy.
Emperador president Winston Co said: “As we continue our internationalisation journey and expand our market reach, we are investing in more and better capacity to ensure that we can supply the growing demand for our high-end premium brands.”
Emperador is a subsidiary of Alliance Global Group, which operates businesses across real estate, food and beverage, tourism entertainment and gaming.