INTERVIEW WITH PEDRO DOMECQ // Brandy, Wine and Liquor in Colombia

Thats the most stunning thing, flavor, flavorwise. Havn’t tasted a grape like that before I’m fascinated by how the political climate affects you guy’s business political instability, FARQ, and those kind of things Let’s put it this way because the wins and spirits business is very much how do you say it attached to political influence by the political scene; it affects us a lot basically because there is a monopoly in Colombia regarding production of spirits so when you see aguardiente its produced by the state the only private company making spirits in Colombia, is us So that means yes, there’s going to be a huge influence of the political climate in our business. then again, so far, for as long as I’ve been working with my father for my father, there hasn’t been really a lot of changes. we changed Presidents, and moved a little to the left, a little to the right Its never left or right. Then later on you can tell me what’s left or right because there’s a lot of people who can’t correctly place what the political influence is all about But, it starting this year, maybe yes, we will see some changes because, thanks to the peace process and the agreement there’s going to be a new definition of private property which means that could start affecting, the way we look at investments if you’re going to invest in Colombia you’re not really looking at a long term investment and that affects a lot of what kind of business you do because if you’re thinking that there’s a possibility that they could expropriate you then you’re investment should be a short term investment but i wanna invest and have my money turned in less than 3 or 4 years and its very different to invest in long term then short term because, short term is not really serious its like, lets do something thats gonna make money fast and lets leave. long term is the real thing What about the process has made it, made that possible? Well i would say it’s today peace process means that we can have a huge difference of people who are not really thinking of the country as we do. They have a different view of the country They really believe that they can change the country in leaning more towards a communist approach thats means, if were going to invest in the country Well I’m not (inaudible) for a guy whose a communist coming for the same thing because business is pretty good so that means if im going to invest I want a fast return then they have it With the monopolization part I know thats a common theme in the U.S. with companies themselves and with mostly wine, that a lot of the wine just becomes fake people will just make one kind of wine

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