Quezon City—(PHStocks)—Grupo Emperador Spain S.A. has completed the purchase of Bodegas Fundador from Beam Suntory today. In a special ceremony in Jerez, known to be Spain’s brandy capital, Emperador was welcomed by the employees of Fundador and Spain’s local officials. The formal turnover was attended by Emperador Inc. (PSE: EMP) chairman Dr. Andrew L. Tan, Jerez Mayor Carmen Sanchez, Philippine Ambassador to Spain Carlos Salinas and other city officials of Jerez.
Grupo Emperador Spain Managing Director Jorge Domeq said the turnover of one of Spain’s most iconic, largest and oldest brandy production facility to Emperador is a major milestone for the company.
“With the combined brandy production facilities of Emperador and Fundador, the world’s largest brandy company is born. We now have almost 1,500 hectares of vineyard land in Spain, around 1,000,000 sqm of cellar and bottling facilities, and four distilleries here in Spain,” said Domecq.
Speaking during the ceremony, Tan said there is a huge opportunity for innovation and creativity in Spain’s brandy and sherry industry. “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,” he said.
Tan’s goal is to create the world’s best brandy. “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,” added Tan.