Emperador Inc., the biggest liquor maker in the Philippines, has been on an acquisition mode in the past 12 months in a bid to expand its global footprint.
But very few people know that Emperador of tycoon Andrew Tan was itself the subject of acquisition by no less than rival Ginebra San Miguel Inc., the liquor unit of conglomerate San Miguel Corp.
A highly-placed source said both companies were in serious talks two years ago over the sale of Emperador to Ginebra San Miguel.
The talks, as we know now, did not materialize, as Emperador went on, instead, to expand its business and recently announced a plan to acquire 100 percent of UK”s Whyte & Mackay Group Ltd. and its subsidiaries for £430 million.
The source did not say why talks failed, but noted that the long negotiations affected Ginebra San Miguel’s focus and somewhat contributed to the company’s poor performance.
Ginebra San Miguel is now refocused on its business and has managed to reduce its net loss in the first quarter of the year to P88 million from P412 million in the same period in 2013.