FDBusiness.com

Family-owned Bacardi, the largest privately held spirits company in the world, is expanding its portfolio of premium spirits with a definitive agreement to acquire 100% ownership of Patrón Spirits International and its PATRÓN^® brand, the world’s top-selling ultra-premium tequila. The transaction, which is subject to customary closing conditions, follows the successful relationship the companies have had for nearly a decade since Bacardi’s initial acquisition of a significant minority stake in Patrón in 2008. The transaction reflects an enterprise value for Patrón of US$5.1 billion and is expected to close in the first half of 2018.

According to the most recent IWSR data, this transaction will make Bacardi the number one spirits player in the super-premium segment in the US and the second largest spirits company in market share by value in the critically important US market.

Tequila is one of the fastest-growing and most attractive categories in the spirits industry, with Patrón being the clear market leader in the super-premium segment. Super-premium brands continue to experience the fastest growth, and the trend is expected to continue.

Patrón is set to join an iconic portfolio that includes BACARDÍ^®, GREY GOOSE^®, BOMBAY SAPPHIRE^®, DEWAR’S^®, MARTINI^®, and a premium tequila portfolio of CAZADORES^® and CORZO^®.

Family-owned Bacardi currently employs approximately 5,500 people, operates more than 20 production facilities, including bottling, distilling and manufacturing sites, and sells its brands in more than 170 countries.