The Keepers Holdings Inc., a company led by businessman Lucio Co, is expanding its liquor distribution business with the acquisition of Booze On-Line Inc., a company engaged in importing and distributing global wines, spirits and premium beers.
The Keepers Holdings said Tuesday its board approved the acquisition of up to 100-percent stake in Booze On-Line, which exclusively distributes liquor brands such as Hoegaarden, Stella Artois, Becks, Leffe, Paulaner, Chimay and Delirium Tremenes
“The intended transaction offers The Keepers Holdings Inc. the opportunity to add to its portfolio premium beer brands,” the company said.
The proposed acquisition will be submitted for the approval of the Philippine Competition Commission.
The Keeper Holdings, the largest imported liquor distributor in the Philippines, reported a net income of P2.17 billion in the first nine months of 2024, up 20 percent from the previous year.
It said the increase was led by the strong sales volume performance from the imported brandy segment.
Consolidated revenue in the nine-month period amounted to P 11.7 billion, up by 15 percent from the previous year on the back of a 18-percent growth in volume of cases sold.
“This was driven principally by Alfonso, the leading imported brandy in the market, which has already surpassed its pre-pandemic levels, premiumizing market and on-premise channel rebound,” The Keepers said.
Among the brands that company imports and sells to the domestic market are Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds and Red Bull, among others.
Cosco Capital Inc., the parent company of the Keepers, also reported a 10-percent growth in its consolidated net income to P10 billion in the nine-month period from P9.1 billion a year ago.
Cosco said in a separate disclosure to the stock exchange the strong operating performance from all business segments also lifted consolidated revenues by 9.1 percent year-on-year to P164 billion.
The group’s grocery retailing businesses, Puregold Price Club, Inc. and S&R Membership Shopping Club, contributed 69 percent of total net income, followed by the liquor distribution with 22 percent, commercial real estate segment with 7 percent, energy and minerals with 1.5 percent and specialty retail with 0.5 percent.
