The Keepers Holdings Inc., the liquor distribution arm of billionaire Lucio Co, plans to acquire up to 50 percent of Cervia Global Trading Inc., the local company behind the award-winning Filipino liqueur brand “SULÀ,” for P40 million.
The potential acquisition marks Keepers Holdings’ strategic entry into the premium local spirits market and strengthens its long-term growth prospects in international markets. SULÀ, known for using Philippine-grown ingredients, has gained recognition in both domestic and global spirits competitions.
Under the deal, Keepers will purchase 125,000 shares—representing half of Cervia’s outstanding stock—from shareholders Caesar R. Certeza, Mark Daniel L. Rivera, Vernon A. Carandang, and Margherita Y. Rauto. The listed company has offered P320 per share, valuing the transaction at P40 million in total and the entire company at P80 million. The valuation reflects Cervia’s revenue potential and growing market traction.
Keepers Holdings has a market capitalization of P37.3 billion as of Tuesday.
Cervia specializes in crafting premium alcoholic beverages made from locally sourced raw materials, aligning with growing global demand for artisanal and culturally rooted liquor brands. Its flagship brand, SULÀ, is positioned to tap into both the rising appreciation for Filipino-made spirits and export opportunities.
Keepers Holdings, which distributes global liquor brands in the Philippines, said the acquisition supports its diversification strategy and enhances its portfolio with a homegrown product that resonates with both local and international consumers.
The transaction is subject to the completion of closing conditions and regulatory approvals.
