The Keepers Holdings, Inc., the liquor importation and distribution firm of Lucio Co and formerly Da Vinci Capital Holdings, Inc., is planning to raise up to P7.5 billion through a follow-on offering.

According to the Securities and Exchange Commission, the firm has filed its registration statement and will be offering up to 3 billion common shares at an offer price of up to P2 to P2.50 per share.

SEC Net proceeds from the offer will be used primarily for strategic acquisitions, expansion of product portfolio and distribution network channels, investments in distribution and logistics network, working capital, and for general corporate purposes.

The company engaged China Bank Capital Corporation, PNB Capital and Investment Corporation, and SB Capital Investment Corporation as the joint issue managers, joint lead underwriters, and joint bookrunners for the transaction.

“We are excited by the opportunity to bring our company to the investing public. Keepers is poised to become the only pure play, imported spirits distribution listed company in the Philippines,” said The Keepers President Jose Paulino Santamarina.

The Keepers consolidated the liquor, wine and specialty beverage distribution businesses of Co. It owns and operates three companies – Montosco Inc., Meritus Prime Distributions Inc. and Premier Wine and Spirits Inc.

The group achieved record consolidated net sales from 2018 to 2019, jumping from P8.58 billion to P10.72 billion or a growth of 25 percent. Consolidated net income recorded stronger growth from just P817 million to P1.22 billion during the same period which translates to a growth of 49 percent.

Growth was tempered by the pandemic in 2020 with consolidated net sales declining to P8.17 billion while consolidated net income declined 3.2 percent to P1.18 billion.

“The Keepers Holdings, Inc. is now the largest distributor of imported spirits in the Philippines holding 74 percent volume market share,” claimed Santamarina.


Source: Manila Bulletin (https://mb.com.ph/2021/07/15/lucio-cos-liquor-unit-plans-p7-5-b-foo/?utm_source=rss&utm_medium=rss&utm_campaign=lucio-cos-liquor-unit-plans-p7-5-b-foo)