Thursday, 7 July 2016
7.7.16 Emperador Wins Battle for Garvey
The Emperador group has outbid Asian Alcohol Corporation for the purchase of Garvey. Andrew Tan of Emperador, who recently purchased the old Domecq, Harveys and Terry installations naming them Fundador, lodged a last minute counter bid for Garvey. Lucio Tan’s Asian Alcohol Corporation had all but completed the purchase for about 25 million euros, but Andrew Tan (no relation) offered about 35 million. The deal includes everything: the Complejo Bellavista, Zoilo Ruiz Mateos, all the brands, the Cerro Viejo vineyard and the Sandeman bottling contract. Confirmation of the deal is only awaiting judicial clearance and comes after five long years of administration of the old Nueva Rumasa bodegas.