Bacardi Limited has completed the acquisition of Patrón Spirits International AG and its ultra-premium Patrón tequila brand.
The transaction, which was announced in late January, closed on Monday. The two companies have had a relationship since family-owned Bacardi’s initial acquisition of a 30% minority stake in Patrón Spirits in 2008.
According to recent International Wines & Spirits Record (IWSR) data, the acquisition makes Bacardi the number one spirits company in the super-premium segment in the USA and the second largest in market share by value in the country. Bacardi noted that tequila remains one of the fastest-growing categories in the spirits industry, with Patrón the market leader in the super-premium segment.
“We are delighted to welcome the team from Patrón into the Bacardi family,” said Bacardi Ltd CEO Mahesh Madhavan. “We continue to be inspired by their passion, culture of caring, attention to detail and unwavering commitment to quality. Our promise is to uphold these qualities to ensure the product integrity, innovative marketing, and commercial success of Patrón tequila for years to come.”
“This is a momentous day for all of us at Patrón Spirits, and we are optimistic about the opportunities that lie ahead. With Bacardi and its global presence, there is vast potential to grow the Patrón brand outside the USA, which is particularly exciting,” said Patrón Spirits President and CEO Edward Brown. “Patrón has been a personal passion of mine for nearly 20 years, and I am thrilled to now be a part of the Bacardi family.”
