Deals
Bacardi Buys Patron, Valuing Tequila Maker at $5.1 Billion
- Demand for agave spirits has grown quickly in recent years
- Patron to get access to Bacardi’s global distribution network
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Bacardi Ltd. is tapping into the fast-growing market for tequila by acquiring Patron Spirits International AG in a deal valuing the company at $5.1 billion.
The purchase will combine two of the world’s largest closely held distillers, putting Grey Goose vodka, Dewar’s scotch and Bacardi rum under the same banner as Patron’s famous tequilas.