Fundador deal a proud moment for PHL, says Emperador exec

The acquisition worth 275 million euros or P13.8 billion by Filipino distillery Emperador Inc. of Fundador Pedro Domecq, Spain's biggest and oldest brandy, is a "very proud moment" for the Filipino people, according to a top official of Emperador's holding firm.

"It is a very proud moment for us Filipinos.... Pagpasok pa lang namin sa bodega ng Fundador Pedro Domecq, which is the main bodega of Fundador, nakataas na po ang bandila ng Pilipinas," said Kevin Tan, the executive director of Alliance Global, Inc., the parent company of Emperador, in a Skype interview with GMA News.

"Medyo kinilabot po ako dun sa nakita ko. The Spanish people were very happy to welcome us," he added.

The deal also made the Phlippines one of the biggest foreign investors in Spain.

"Itong kumpanyang ito ay napaka-gandang asset. Marami pong ibang kumpanya all over the world who were very interested to purchase itong kumpanyang ito," Tan added.

Emperador also acquired in the deal the Bodegas Fundador, the biggest and oldest brandy cellar in Spain. The cellar was built in 1730.

Fundador is one of the biggest exporters of brandy in the world while the Phlippines is one of the biggest markets for the brand.

Aside from Fundador, Emperador also bought the following brands: Terry Centenario, Tres Cepas and Harvey's. All three are top sellers in in Spain, Equitorial Guinea and United Kingdom.

Business analyst Peter Wallace said the Emperador-Fundador deal will boost the Philippines' image in the international business community.

"It's a nice coincidence that it followed APEC because that's what APEC is all about—globalizing industries, globalizing business," Wallace said.

"It shows a growing maturity of the Phliippines," he added.

Ambassador to Spain Carlos Salinas said the deal would also open opportunities for other Filipino-owned companies.

"As a matter of fact, the Philippines is now one of the largest investors in Spain, and we welcome this, as now we are able to mark, we are able to make a stronger presence, we are able to be in the radar of the global investment arena," Salinas said.

The Philippines was a colony of Spain for more than 300 years. —NB/JST, GMA News