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Yahoo
15 hours ago
- Business
- Yahoo
The Keepers acquires 50% stake in Cervia Global Trading
Philippines-based alcohol importer and distributor The Keepers Holdings has purchased a 50% stake in local liqueur producer Cervia Global Trading. In a filing with the Philippine Stock Exchange on 16 July, Cosco Capital-owned The Keepers said it agreed to pay 320 pesos ($5.62) per share for 125,000 shares in Cervia Global Trading. Cervia Global is best known for its Filipino liqueur brand Sulà. It specialises in liqueurs made from local ingredients for both domestic and international markets. In the filing, The Keepers added that the 50% stake provides a 'strategic entry point into the premium local spirits market, while also positioning the company for growth in international markets." The shares were acquired from Caesar R Certeza, Mark Daniel L Rivera, Vernon A Carandang, and Margherita Y Rauto. The Keeper's portfolio includes wine and spirits distribution businesses Meritus Prime Distributions, and Premier Wine & Spirits. It also controls Montosco, which distributes Alfonso Brandy. Other liquor brands distributed by the company in The Philippines include Johnnie Walker, Chivas Regal, and Glenfiddich along with Suntory, Jinro, and Jose Cuervo. Last November, the company announced its intention to acquire Booze On-Line, a local beer importer, to 'add to its portfolio premium beer brands'. In the first quarter of its 2025 fiscal year, The Keepers reported a 14.3% increase in net income to 689.9m pesos, with gross revenue growing by 20.9% on the year prior to 4.05bn pesos. The company attributed the growth to an 18% increase in total cases sold, with the brandy category accounting for 80% of sales value and 82% of sales volume. For the year ended 31 December 2024, The Keepers reported net income of 3.53bn pesos, up 21.3% on the previous year, which the group attributed to "strong sales volume performance" in its imported brandy. Its net sales in the period reached 18.52bn pesos, reflecting a 13.6% increase. Gross profit also grew 17.6% to 5.2bn pesos. "The Keepers acquires 50% stake in Cervia Global Trading " was originally created and published by Just Drinks, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
02-07-2025
- Business
- Forbes
Fortune Of Thai Building Supplies Magnate Takes Hit As Consumers Turn Thrifty
Witoon Suriyawanakul. Bangkok post This story is part of Forbes' coverage of Thailand's Richest 2025. See the full list here . Sliding shares of Siam Global House, which owns the Global House chain of building-materials and DIY stores, nearly halved the net worth of founder Witoon Suriyawanakul to $475 million. Net profit slumped 11% in 2024 to 2.3 billion baht ($71 million) while revenue stagnated at 33 billion baht amid weak consumer spending and higher costs related to distribution, staffing and store openings. In the first quarter of 2025, tepid same-store sales growth slashed net profit by 14%. The company, run by Witoon as CEO, plans to open seven new outlets in Thailand in 2025, taking the total to 99, including two in Cambodia. However, further regional expansion is on hold for now: In December, the company's joint venture to launch the DIY chain in the Philippines with Manila-based Cosco Capital, owned by rich listers Lucio and Susan Co, was called off. In an April report, Suttatip Peerasub, an analyst at Maybank Securities (Thailand), predicted flat net profit and revenue for 2025 .
