How to store friendly email address and use in email?

I am trying to store and use labeled email address in the format;

'Joe Blogs | Some Business' 

The email stores fine but when trying to use it in the quote ‘To Email’ field which populates automatically I am getting an error:
"You must provide at least one recipient email address."
My mailer is set to PHP mailer.

Is there any way to resolve this or any workaround?