A PYMNTS Company

US: Bacardi buys tequila maker Patron in US$5.1b deal

By  |  January 23, 2018

Drink giant Bacardi has said it will buy tequila maker Patron, as demand grows for high-end versions of the spirit around the world.Bacardi says the deal values Patron at about US$5.1 billion.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Best known for its rum, Bacardi took a minority stake in the tequila firm a decade ago and the two companies have worked closely together since then.

    Bacardi already owns the Cazadores and Corzo tequila brands and is the world’s biggest privately-owned spirits firm.

    According to recent data by research firm IWSR, the Patron deal will make Bacardi the top spirits maker in the so-called super-premium segment of the US market and the second largest spirits company in the market by value.

    Bacardi will tap debt markets to help finance the deal, according to a person familiar with the deal. Bacardi acquired an initial 30% stake in Patron for less than US$500 million in 2008, said Bloomberg.

    Full Content: Bloomberg

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.