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Bacardi to buy Patrón Spirits for $5.1bn

DBR Staff Writer Published 23 January 2018

Bermuda-headquartered Bacardi has agreed to acquire ultra-premium distilled spirits manufacturer Patrón Spirits International in a deal worth $5.1bn.

The deal will see Bacardi purchase 100% of Patrón Spirits International and its ultra-premium Tequila brand, Patrón.

Bacardi first bought a significant minority stake in the brand in 2008.

Patrón will complement the Bacardi portfolio of premium brands, including Grey Goose, Bombay Sapphire, Dewar’s, Martini, and a premium tequila portfolio of Cazadores and Corzo.

The transaction is expected to close in the first half of 2018, subject to customary closing conditions,

Entrepreneurs John Paul DeJoria and Martin Crowley founded Patrón with an aim to create a tequila that was simply perfect.

Patrón tequila is produced from high quality 100% Weber Blue Agave.

Patrón Spirits’ portfolio includes Roca Patrón, Gran Patrón, XO Cafe, Citrónge, Pyrat, and Ultimat, as well as limited and special edition distilled spirits.

Bacardi CEO Mahesh Madhavan said:“Adding Patrón to the Bacardi portfolio creates a tremendous opportunity for the brand outside of the United States as Bacardi’s international distribution network will help grow Patrón around the world, increasing scale in the U.S. and globally.”

The Patrón leadership team, including CEO Edward Brown, COO David Wilson, and chief marketing officer Lee Applbaum, will continue in their roles.

Upon completion of the deal, DeJoria will serve as an ambassador for Patrón in the role of chairman Emeritus and plans to work with Bacardi on their combined dedication to philanthropic projects and environmental consciousness.

Image: Bacardi to acquire Patrón Tequila brand. Photo: Courtesy of Bacardi Limited.