In an amended registration statement filed with the Securities and Exchange Commission (SEC), AGI said it is setting aside a total of P7 billion for the expansion of its alcoholic beverage production lines and working capital requirements of Emperador Distillery Inc.
AGI said the company is spending P1 billion each for planned acquisitions and repayment of debt.
Tan infused P20 billion worth of assets in AGI to hold all his interests in real estate development, food and beverage and the fastfood industry. AGI served as a primary vehicle to expand his existing businesses and to look into various opportunities for growth.
AGI operates its food and beverage business mainly through its wholly-owned subsidiary EDI, which sold eight million nine-liter cases of brandy last year or 76 percent of the sales volume of the Philippine brandy market.
EDI markets its brandy under the Emperador Brandy and the Generoso Brand names throughout the country and plans to expand its operations in Thailand and China.
Among EDI’s products include Club Valentino Rhum, Collector’s Premium Whisky, Andy Player Special Whisky, and Emperador Brandy.
AGI also has a 46 percent stake in upscale property developer Megaworld Corp. and a 49 percent interest in Golden Arches Development Corp., which oversees the operations of McDonald’s restaurants in the Philippines pursuant to a master franchise agreement between Golden Arches Development Corp. and McDonald’s Corp. USA.
AGI is also the exclusive distributor of Campbell Soup Co.’s products and E&J Gallo Winery Inc. wines in the Philippines. It also handles the international marketing of McKester PikNik International Ltd.’s food products.
AGI is planning to raise about P3 billion from a follow-on offering of shares in both local and international markets.