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Manila Bulletin devider devider Lucio Co buys into Spanish brandy firm

Lucio Co buys into Spanish brandy firm

Published Jun 11, 2018 12:00 am
By James A. Loyola LUCIO CO ACQUIRES SIGNIFICANT STAKE IN SPANISH BRANDY MAKER – Williams & Humbers (W&H) Executive Chairman Jesus Medina Garcia de Polavieja (second from left) and Puregold Price Club and COSCO Capital, Inc. Chairman Lucio L. Co shake hands with each other after signing the agreement on May 28, 2018 whereby the latter acquired a significant stake in W&H, makers of Alfonso and Alhambra brandy brands. Looking on are: W&H lawyer Carlos Lopez Mariano (left), Jose Luis Lopez de Garayo y Gallardo (center), notary public; and Philippine Ambassador to Spain Phillippe Lhuillier (right). LUCIO CO ACQUIRES SIGNIFICANT STAKE IN SPANISH BRANDY MAKER – Williams & Humbers (W&H) Executive Chairman Jesus Medina Garcia de Polavieja (second from left) and Puregold Price Club and COSCO Capital, Inc. Chairman Lucio L. Co shake hands with each other after signing the agreement on May 28, 2018 whereby the latter acquired a significant stake in W&H, makers of Alfonso and Alhambra brandy brands. Looking on are: W&H lawyer Carlos Lopez Mariano (left), Jose Luis Lopez de Garayo y Gallardo (center), notary public; and Philippine Ambassador to Spain Phillippe Lhuillier (right). Another Filipino businessman has invested in a Spanish brandy company as consumption of the liquor continues to grow in the Philippines. Businessman Lucio Co has signed an Agreement with Williams & Humbers to acquire a significant stake in the Company which is the manufacturer of well-known brandies like Alfonso and Alhambra. The acquisition is expected to benefit both parties. W&H is based in Jerez, Spain and has 30 brands sold in more than 70 other countries. The proceeds of the sale will be used by W&H to expand its business in Spain and Cosco Capital, on the other hand, will be afforded a greater influence in its sourcing side. Co’s flagship Cosco Capital, through its subsidiaries, is the exclusive distributor of W&H in the Philippines. The good relations of the parties started way back in 1998 with Co’s importation of 1877 and Alfonso 1. Cosco established Premier Wine and Spirits, Inc., in 1996. It is engaged in the sales, distribution and marketing of imported wine, spirits, beer and specialty beverage brands. Premier has a national distribution network covering all channels of the industry that is on premise, off premise, provincial and travel retail. It has in its portfolio some of the world's leading brands. The signing ceremony between Co and W&H was held on May 28, 2018 at the residence of the Philippine Ambassador in Spain, Philippe Lhuillier, in Madrid. Cosco also used to distribute popular brandy Fundador of Spain before it was acquired by businessman Andrew Tan’s Alliange Global Group, Inc.
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