Emperador Inc., the liquor arm of businessman Andrew Tan, said growth in its net income during the first quarter remained steady, despite its acquisition of Fundador brandy.
In a disclosure to the Philippine Stock Exchange, the liquor company said net income for the first three months of the year was flat at P1.4 billion.
Revenue, on the other hand, increased slightly to P9 billion from P8.89 billion a year earlier.
“We have an unprecedented and compelling ownership of vineyards, bottling facilities and distilleries. We already have 1,500 hectares of vineyard land, roughly 1 million square meters of cellar and bottling facilities, and three distilleries in Spain,” Winston Co, the company’s president said.
During the period Emperador took over the 286-year old Bodegas Fundador from Beam Suntory. The combined Emperador and Fundador brandy production facilities make the Andrew Tan-led liquor firm the largest brandy maker in the world.
“In 2014, the acquisition of Scotch whisky company Whyte and Mackay jump-started Emperador’s transformation into a world-class company. The acquisition of Fundador brandy sealed the deal making our company truly global with access to 100 countries,” Co said.
“While maintaining our brandy dominance in local liquor brands with Emperador brandy, we have enviable presence in foreign liquor brands in the Philippines with our Fundador brandy and single malt brands,” he added.
In 2013, Emperador went off-shore for expansion.
It acquired Bodegas Las Copas and Bodega San Bruno in Spain in February 2014 and early 2013, respectively, and Whyte and Mackay in the United Kingdom in October 2014.
“These provided platforms for international expansion and domestic premiumization for Emperador,” the company said.
Another deal is the acquisition of a brandy and sherry business in Spain in November last year. The business was formally transferred and the assets turned over to Emperador in March 2016.