Lucio Co's The Keepers Holdings Buys Cocktail Mixer Brand from Diageo
Listed beverage company The Keepers Holdings Inc. has acquired cocktail mixer brand Island Mixers from Diageo Philippines, Inc., the company announced on Monday (January 30).
Island Mixers is a non-alcoholic cocktail mixer marketed as an accompaniment for gin, vodka, tequila, and rum cocktails.
Financial details of the acquisition were not immediately released.
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In a disclosure to the Philippine Stock Exchange, the company majority owned by tycoon Lucio Co’s Cosco Capital said Island Mixers is being considered for expansion from its current Island Mixers Lime variant into other mixing flavors and categories.
The announcement follows The Keepers’ acquisition of 50 percent of Bodegas Williams & Humbert SA, makers of the popular Alfonso brand of brandy in September 2022. That acquisition effectively transformed the company’s business model from trading to manufacturing and distribution.
The Keepers Holdings is the largest distributor of imported spirits and beverages in the Philippines, with a market share of 74 percent based on volume and 66.9 percent based on retail sales.
The company is the exclusive distributor of globally renowned brands, which are market leaders in the industry such as Alfonso, Johnnie Walker, Jose Cuervo, Jim Beam, Jinro, Absolut, Bailey’s, Red Bull, and Perrier.
Co is the founder and majority shareholder of retail giant Puregold Price Club, which, as of end-2021, owned and operated 532 stores nationwide, including 263 hypermarkets, 100 supermarkets, 28 extras, 22 S&R Warehouse Clubs, 47 S&R quick service restaurants, three Merkado branches, and 30 San Roque supermarkets.
Meanwhile, Diageo completed the acquisition of homegrown rum brand Don Papa earlier this month for P15.48 billion.