VuQo Holdings, a Philippines-based publicly owned corporation that involves in developing, producing, distilling, bottling, packaging, distributing, and marketing wines and spirits through its subsidiaries, has shifted its business focus from vodka to waste management by acquiring Waste Management Asia (WMA).

Formerly known as Lacto Asia Pacific, WMA is an environmental fellow in the United States-Asia Environmental Partnership (US-AEP Program).

The purchase includes all of the WMA’s outstanding shares, which will be purchased through all-stock transaction.

Following the deal, VuQo Holdings also decided to separate its subsidiaries VuQo Beverages and El Coco Wine and Spirits Distillery, which will become private companies.

The company also replaced its chief financial officer Felicitas Garcia with Angel Gonzales and CEO Rene Esteban with Rolando Sianghio.

Gonzales, who is a certified public accountant, will handle VuQo’s global finance functions including financial analysis, tax, internal controls, and audit, treasury and investor relations.

Sianghio said the company has been doing good business in vodka industry and is now focusing on waste management that will be useful to the shareholders.

Esteban said, "This acquisition shows flexibility and will give our business greater focus on pursuing our respective growth strategies while potentially giving longer term value to our shareholders."