The Keepers Holdings’ net income up by 56.8% during 1H2021
The Keepers Holdings, Inc., the publicly listed wine and spirits distribution company of retailer Lucio Co, reported that its net income climbed 56.8% to P650.7 million in the first half of 2021 compared to the P415.0 million it recorded in the same period last year.
The company saw a 38% year-on-year improvement in consolidated net sales as it posted P4.30 billion in the first six months of the year, or an increase of P1.11 billion.
The Keepers Holdings’ brandy segment, led by flagship brand Alfonso, registered a 58.6% sales growth in the first half of 2021, compared to the same period the previous year. The brandy segment now accounts for 78.1% of the group’s total sales by volume.
IWSR Drinks Market Analysis Limited, the global benchmark for beverage alcohol data and intelligence, had identified leading imported Spanish brandies, such as Alfonso, as among the growth drivers of the imported spirits segment.
Based on its early performance this year, The Keepers Holdings is hopeful that Alfonso will be able to sustain its rapid growth – even surpassing the performance of direct competitors in the wider spirits market in the Philippines – through execution of tailored strategies and by leveraging on the Lucio Co Group’s deep understanding of the domestic consumer market.
The Keepers owns three major players in the Philippine imported liquor, wine and specialty beverage distribution segments, namely, Montosco, Inc., Meritus Prime Distributions, Inc. and Premier Wine and Spirits, Inc.
According to IWSR, The Keepers Holdings controls 74.0% of imported spirits by volume and 66.9% by retail sales value, resulting from pure third-party distribution arrangements and associated businesses with some of the world’s leading and popular spirits brands, such as Alfonso, Johnnie Walker, Chivas, Jim Beam, Jameson, Jinro, Absolut Vodka, Tanqueray, Jose Cuervo, and Baileys.
In July 2021, The Keepers Holdings filed an application for a follow-on offering or a ‘re-IPO’ with the Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE). Based on a prospectus dated July 13, 2021, The Keepers Holdings plans to offer up to 3 billion common shares at an offer price of P2.00 to P2.50 per share. The Keepers Holdings has engaged China Bank Capital Corp., PNB Capital and Investment Corp. and SB Capital Investment Corp. as joint issue managers, joint lead underwriters and joint bookrunners.
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