Family-owned Bacardi Limited, the largest privately held spirits company in the world, is expanding its portfolio of premium spirits. Bacardi has reached an agreement to acquire 100 percent ownership of Patrón Spirits International AG and its Patrón brand, the world’s best-selling ultra-premium tequila.
The transaction follows the successful relationship the two brands have had for nearly a decade, since Bacardi’s initial acquisition of a minority stake in Patrón in 2008. Patrón is estimated to have an enterprise value of $5.1 billion. The deal should close in the first half of 2018.This acquisition will make Bacardi the spirits player in the United States and the second largest spirits company in market share by value in the U.S. market.
John Paul DeJoria and Martin Crowley founded Patrón with the goal of creating tequila that is “simply perfect.”
This story is from the Spring 2018 edition of Dolce Magazine.
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This story is from the Spring 2018 edition of Dolce Magazine.
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