Lucio Co firm forms new liquor unit

MANILA, Philippines — Lucio Co-owned The Keepers Holdings is incorporating a new subsidiary, Fertuna Distributions Inc.

The Keepers did not indicate the primary purpose of the new subsidiary to be incorporated.

At present, The Keepers owns Montosco Inc., Meritus Prime Distributions Inc. and Premier Wine and Spirits, three operating companies engaged in the importation, distribution and marketing of imported alcoholic and non-alcoholic beverages.

These firms distribute international liquor brands such as Alfonso, Johnnie Walker, Chivas Regal, Glenfiddich, Jose Cuervo, Jim Beam, Martell, Absolut, Red Bull and Jinro.

Last September, The Keepers acquired 50 percent of a Spain-headquartered winery Bodegas Williams & Humbert SA which enabled the company to expand into liquor manufacturing aside from the import and distribution businesses.

The Keepers has already completed the acquisition, which represents a strategic long-term investment that will enhance the competitive position of the group and strengthen its hold and secure the company’s supply line of its flagship brand and category, “Alfonso” brandy.

From January to September, The Keepers reported a 49.7 percent growth in its consolidated net income to P1.6 billion.

This was on the back of strong sales performance from all categories namely imported wine, spirits and specialty beverages.

During the nine-month period, The Keepers recorded consolidated revenues amounting to P8.95 billion, up 34.9 percent from the previous year on the back of a 26 percent growth in volume of cases sold.