November 13, 2024 | 12:00am
MANILA, Philippines — The Keepers Holdings Inc. of tycoon Lucio Co is gobbling up a local beer importer, further boosting the company’s extensive portfolio.
The Keepers said it plans to acquire up to 100 percent of the outstanding shares of Booze On-Line Inc.
“The intended transaction offers The Keepers Holdings Inc. the opportunity to add to its portfolio premium beer brands,” the company said.
According to The Keepers, the intended price of the transaction is below 10 percent of its total book value as of Sept. 30.
The largest imported liquor distributor in the Philippines said the proposed acquisition would be submitted to the approval of the Philippine Competition Commission, if applicable.
The Keepers will acquire two million shares of Booze Online from Adarro Holdings Corp. and Rajesh Sadhwani. The Keeper’s present corporate secretary, Baby Gerlie Sacro, is one of the directors of Adarro Holdings.
Booze Online is a domestic corporation incorporated and registered with the Securities and Exchange Commission in 2001.
Based on its website, Booze Online is a pioneer in imported draft beer and considered to be the largest imported beer distributor in the Philippines.
It also offers an extensive listing of over 100 different brands including our exclusively distributed brand such as Hoegaarden, Stella Artois, Becks, Leffe, Paulaner, Chimay and Delirium Tremenes.
The Keepers, on its end, imports and distributes world-class spirits, wines and related products in the country.
It holds a leading market position in the imported distribution segment in the Philippines and has extensive and long-standing relationships with brand owners who are global market leaders.
For over two decades, the company has brought and served Filipino consumers the leading international brands of spirits, wines and specialty beverages, including iconic global brands Johnnie Walker, Chivas Regal, Glenfiddich, Suntory, Jinro, Jose Cuervo, Jim Beam, Penfolds and Red Bull.
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