GrupoEmperador Spain S.A., a unit of Emperador Inc., has completed the purchase of Bodegas Fundador from Beam Suntory.
In a special ceremony in Jerez, known to be Spain’s brandy capital, Emperador was welcomed by the employees of Fundador and Spain’s local officials.
The formal turnover was attended by Emperador chairman Andrew Tan, Jerez mayor Carmen Sanchez, Philippine Ambassador to Spain Carlos Salinas and other city officials of Jerez.
GrupoEmperador Spain S.A. managing director Jorge Domeq said the turnover of one of Spain’s most iconic, largest and oldest brandy production facilities to Emperador was a major milestone for the company.
“With the combined brandy production facilities of Emperador and Fundador, the world’s largest brandy company is born. We now have almost 1,500 hectares of vineyard land in Spain, around 1,000,000 sqm of cellar and bottling facilities, and four distilleries here in Spain,” said Domecq.
Tan said there was a huge opportunity for innovation and creativity in Spain’s brandy and sherry industry.
“A new era begins not just for Fundador, but the whole brandy and sherry industry in Spain. This is an era that will bring in more innovation and new ideas,” Tan said.
Tan said his goal was to create the world’s best brandy.
“If the world’s best whiskies are aged in sherry casks in Jerez, then many of the brandy products now aged in sherry casks in Jerez should become the best brandy in the world. In Bodegas Fundador, we have a sizable inventory of brandy that has been aged for more than 50 years. Once they are bottled, they should become one of the most valuable brandies in the world,” said Tan.
Emperador earlier purchased Fundador of Spain and Harveys of the UK from US-based Beam Suntory for 275 million euros ($291 million).
Fundador produces popular brandies including one of the same name and the Terry Centenario and Tres Cepas brands. It also makes Harveys, a sherry.
In 2014, Emperador paid 430 million pounds for Scottish whisky maker Whyte and Mackay and 60 million euros for half of Spanish brandy producer Bodega Las Copas. It has also been acquiring Spanish vineyards and brandy stocks.
Emperador reported a net income of P4.7 billion in the first nine months of 2015, up by 3 percent from a year ago.
Consolidated revenues reached P29 billion, inclusive of foreign operations, in the nine-month period.
Emperador began selling Whyte and Mackay products led by single malt whisky brands Dalmore and Jura.