This Pinoy-Chinese owner of Puregold is buying into Spanish brandy firm
Filipino business mogul Lucio Co, who is the owner of Puregold Price Club Inc., is buying into Spanish brandy company Williams & Humbers (W&H) and even acquiring majority stake in it.
A report in Manila Bulletin showed that Co has recently forged a deal to acquire a significant stake in the Spanish firm, who manufactures well-known brandies like Alfonso and Alhambra.
“The proceeds of the sale will be used by W&H to expand its business in Spain and Cosco Capital, on the other hand, will be afforded a greater influence in its sourcing side,” the report said.
W&H is based in Jerez, Spain and has 30 brands sold in more than 70 other countries.
Through its subsidiaries Co’s flagship Cosco Capital has always been the exclusive distributor of W&H in the Philippines.
The good relations of the parties started way back in 1998 with Co’s importation of 1877 and Alfonso 1, the report further said.