Yesterday, Phillipines spirits producer Emperador announced that it is in talks with Diageo-controlled United Spirits with regard a takeover bid for Whyte & Mackay.
If completed the acquisition would allow Emperador-owner Alliance Global to gain a global portfolio of scotch whiskey, malt and grain distilleries and brands.
Confirmation that talks are now at an advanced stage, a story widely reported in the media of late, was confirmed by a Emperador filing this week: “We confirm that Emperador Inc is in ongoing discussions with United Spirits (Great Britain) Ltd, regarding Emperador’s interest in purchasing the Whyte and Mackay spirits business in the UK.”
“No agreement has yet been reached in this regard and Emperador is constantly on the look-out for opportunities to expand its liquor business both domestically and globally,” the filing read.
The deal is reportedly worth in the region of around $675 million, or £400 million.
Whyte & Mackay has four malt distilleries, Jura, Dalmore, Fettercrane and Tamnavulin. Diageo, the world's largest distiller, acquired Whyte & Mackay in 2012 when it purchased a controlling interest in United Spirits.
Emperador recently signed an agreement with Diageo to sell the latter's brands in the Philippines, a move that saw its stock soar to a four-month high in March.
© 2014 - European Supermarket Magazine by Enda Dowling
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