76ºF

Bacardi buys Patron Spirits for $5.1 billion

Cuban-born company now based in Bermuda buys famous tequila producer

MIAMI – Bermuda-based Bacardi Ltd. acquired Patron Spirits International AG, the producer of Patron’s famous tequilas.  

Bacardi, which was founded in Cuba, announced Monday that the deal's estimated value was $5.1 billion. 

"Bacardi's international distribution network will help grow Patron around the world, increasing scale in the U.S. and globally," Mahesh Madhavan, CEO of Bacardi Limited, said in a statement.

Patron's leadership will remain in place when the deal closes.

 

 


About the Author: