MARKETING/DESIGN/CONSUMER TRENDS/INSPIRATIONS Cognac & Brandy News for Consumers & Industry Experts
Andrew Lim Tan is a Chinese Filipino billionaire with business interests in real estate, liquor and fast food. In 2011, Forbes magazine rated him fourth on the list of the “Philippines 40 richest” with an estimated net worth of $2 billion.
This year 2016, Andrew Tan’s company successfully acquired Spain’s oldest and largest brandy company, i.e., Fundador.
Acquisition makes Emperador the biggest brandy company in the world.
“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,” Andrew Tan said. “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.”
The agreement includes the Fundador, Harveys, Terry and Tres Cepas brands, as well as production operations in Jerez and Tomelloso, Spain.
“A recent review of our portfolio of brands and supply chain footprint led us to believe that our Spain-based brandy and sherry business could be of greater value to another company,” said Steve Fechheimer, Head of Strategy and Corporate Development at Beam Suntory. “Our teams in Jerez and Tomelloso are outstanding, and I am confident that the operations and the brands produced there have a very bright future as part of Emperador Inc.”
Emperador Inc. is the world’s largest brandy producer through the Emperador brand. “We are very excited about adding the iconic brands of Fundador (the Philippines’ premier imported brandy brand), Terry Centenario (Spain’s number one selling brandy), Tres Cepas (number one brandy in Equatorial Guinea) and Harveys (number one selling sherry wine in the United Kingdom) to the Emperador portfolio,” said Winston Co, President of Emperador Inc. “We look forward to continuing to invest behind the acquired brands, welcoming the transferring employees to Emperador and engaging with the local community.”
The all-cash transaction was valued at 275 million Euros.