Japanese brewing and distilling company Suntory Holdings has unveiled plans to offload its brandy and sherry business in Spain to Philippines-based beverage company Emperador for €275m.

The move follows Beam Suntory’s decision to focus on its American, Japanese and Scotch whisky brands, reported the Wall Street Journal.

Under the terms of the deal, Emperador will acquire Suntory’s brandy brands including Fundador, Terry Centenario and Tres Cepas as well as sherry-wine brand Harveys.

Additionally the deal will include two Spanish production facilities in Jerez and Tomelloso.

Emperador president Winston Co said: "We are very excited about adding the iconic brands of Fundador, Terry Centenario, Tres Cepas and Harvey’s to the Emperador portfolio.

"We look forward to continuing to invest behind the acquired brands, welcoming the transferring employees to Emperador and engaging with the local community."

The deal is expected to expand Emperador’s key market outside the Philippines.

Co further stated: "The acquisition of the Spanish assets and Fundador brandy is immediately accretive both to Emperador’s revenue and net income.

"With the combined global reach of Whyte and Mackay and Fundador, our expanded product portfolio will have access to more than 100 countries around the world.

Last year, Emperador acquired Whyte and Mackay Scotch Whiskey Company for £430m as part of its aim to expand its footprint across the globe.

The Emperador brands include Dalmore and Jura Single Malt Scotch Whiskies, John Barr Blended Scotch Whiskies and Vladivar Vodka.

In May, the company had launched Smirnoff Mule and Andy Player Whisky to expand its products portfolio.