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Bottom line: Emperador's acquisition, PH as Asia's 'must-see' spot

These highlights from the previous week put the Philippines in a favorable light.
By Entrepreneur Staff |


Andrew Tan_Fundador

TAKEOVER. Emperador, Inc. Chairman Dr. Andrew L. Tan and Jerez Mayor Carmen Sanchez lead the tour inside Bodegas Fundador during the turnover ceremony of Spain's Bodegas Emperador to Phillippines' Emperador. Photo courtesy of Alliance Global, Inc.


PH Emperador takes over Spain’s Bodegas Fundador

Emperador, Inc. of tycoon Andrew Tan (one of the 11 Filipino billionaires in the recent Forbes 2016 world’s billionaires’ list), formally took over on March 1 Bodegas Fundador from Beam Suntory.

 

The move makes Tan’s Emperador’s the world’s largest brandy maker, the company said. 

 

In December, Grupo Emperador Spain S.A. signed a deal with Beam Suntory to purchase four of its leading international liquor brands and Bodegas Fundador. In an all-cash offer, it valued the assets at €275 million, or about P14.17 billion (as of exchange rate Monday, March 7).

 

Grupo Emperador Spain S.A. Managing Director Jorge Domeq said in a statement dated March 2 that the company now has almost 1,500 hectares of vineyard land in Spain, around 1 million square meters of cellar and bottling facilities, and four distilleries worldwide.

 

Tan, Emperador officials, Fundador employees, and local officials attended the formal turnover ceremony held in Jerez.

 

“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 in a statement.

 

Emperador’s acquisition includes Fundador Pedro Domecq (the Philippines’ largest selling premium imported brandy brand); Terry Centenario; Tres Cepas; and Harveys, United Kingdom’s no. 1 selling sherry wine.

 

 

PH is Asia’s new, must-see spot—UK’s Daily Mail

United Kingdom’s Daily Mail named on March 6 the Philippines as Asia’s new, must-see destination.

 

The author, Peter Lloyd wrote that “visitors can enjoy the hustle and bustle of famed capital city, Manila, or indulge in stunning remote islands.”

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He added the country is ideal for those who like to combine culture, shopping, and nightlife with idyllic VIP beach breaks.

 

Complete with photos of his visit here—from his stay in the Makati business and financial district, to gridlock traffic, historical tours, shopping destinations, to beach visits—the author mostly have good words for the country, and noted that the hospitality industry is thriving.

 

“Any traveller going for weeks (rather than months) will only be able to do a handful during their stay, but I strongly suggest Bohol (and neighboring Panglao in the central Visayas region), plus the stunning Palawan,” he wrote.

 

“Yes, it's true that Asia’s more commercial offerings may have long enjoyed their moment in the sun, but—when it comes to the Philippines—their time is most definitely now,” Lloyd added.

 

The Daily Mail article also noted that flag carrier Philippine Airlines will introduce a new, non-stop daily service between London Heathrow and Manila.

 

*****

Bottom line is a recap of the weekend news on business, economy, finance, entrepreneurship, and more. 

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