Emperador may borrow £129 million for W&M takeover

23rd June, 2014 by Neal Baker

Emperador, the alcoholic drinks division of Alliance Global Group, is looking to borrow around £129 million to help finance the acquisition of Scotch maker Whyte & Mackay.

Whyte and MackayAlliance Global chairman Andrew Tan told the Manila Standard Today that the company would borrow at least 30% of the total acquisition cost of Whyte and Mackay, which amounts to around £430 million.

“We don’t need to raise much because the company has very little debt. I think with the entire purchase price, which is about £430 million, we probably need to raise 30% of through borrowing and the rest we can fund,” Tan said.

“The company has a lot of cash and no debt in the last 10 years. We will just need to borrow a little plus the cash we have in the balance sheet,” he added.

Andrew Tan

Alliance Global chairman Andrew Tan

Separately, Emperador president Winston Co told reporters gathering at the company’s stockholders’ meeting on Monday (23 June): “With the acquisition, we can fast track company growth and dominate the Philippine market and became a global player as well.”

As the drinks business reported in May, Emperador signed an agreement with United Spirits to acquire Whyte & Mackay group and its units, which the company expects to immediately increase its earnings.

Whyte and Mackay is the fifth largest maker of Scotch whisky in the world with a history of more than 160 years and ownership of additional brands including The Dalmore and Jura. It also holds substantial aged whisky inventories. The group has a production capacity of 50 million litres of alcohol a year with five distilleries and one bottling plant in Scotland.

Emperador earlier said it planned to double its net income to £155 million by 2016-2017 from last year’s £78 million through expansion and acquisition.

Leave a Reply

Your email address will not be published. Required fields are marked *

Subscribe to our newsletters

Job vacancies

Digital Marketing Manager

Master of Malt
Tunbridge Wells, Kent, UK

Experienced On Trade Sales Person

Borough Wine Imports
London, GB

3 x Business Development Executive

The Lakes Distillery Company Limited
Newcastle head office and nationwide, UK

Editor

Master of Malt Ltd
Tunbridge Wells(Kent)

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Liverpool

Brand Manager

Hallgarten Druitt
Luton, UK

Experienced On-Trade Salespeople Required

Portal Wines and Spirits
London, UK

Purchasing and Sales (Wine Trader)

JF Tobias
London, UK

Sales Account Manager - On-Trade

Berkmann Wine Cellars
Cambridge / Peterborough / Bedfordshire, UK

Brand Marketing Manager

ATOM Supplies Ltd
Tunbridge Wells, UK

Senior On-Trade Sales Manager, London

Nyetimber
Central London, UK

Maverick Drinks Portfolio Ambassador to the North

Maverick Drinks
North West England, UK

Key Account Manager – Wine – On Trade – Dubai

Vantage Hospitality - Dubai
Dubai, UAE

Brand Ambassador European Markets

Bodegas Torres
Spain

The Global Merlot Masters 2017

Deadline : 17th April 2017

db Awards 2017

Deadline : 28th April 2017

The Global Organic Masters 2017

Deadline : 14th April 2017

The Global Sparkling Masters 2017

Deadline : 12th May 2017

Click to view more

Global Chardonnay Masters 2016

Now in its fourth year, the competition will identify the best Chardonnay from all around the world in every price range.

Rioja Masters 2016

Now in its fifth year, the competition will recognise and reward the finest Riojas on the world stage.

Fortified Masters 2016

Now in its third year, The Fortified Masters will reward the best fortified wines on offer.

The Global Malbec Masters 2016

the drinks business is proud to announce the inaugural Global Malbec Masters 2016.

Click to view more