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Bacardi buys tequila maker Patron in $5.1bn deal

From BBC - January 22, 2018

Alcohol 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 $5.1bn (3.6bn).

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 makes 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.

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