Bacardi buys Patron at $5.1 Billion
Bacardi buys Patron at $5.1 Billion. This week, Bacardi announced that it has agreed to acquire 100% of Patrón Spirits at $5.1 billion. This deal comes 10 years after Bacardi first took a 30 percent stake in Patrón.
Adding the Patrón lineup is a game-changer for Bacardi. This deal will make Bacardi the second-largest U.S. spirits marketer in retail sales terms at roughly $4.5 billion. Only Diageo, with U.S. retail sales approaching $9 billion in 2017, is larger.
Bacardi will now hold a dominant 70 percent share in the US tequila market. And despite an influx of competition in recent years, Patrón has continued to grow.
Patrón’s success in building the luxury Tequila category over the past 20 years has been so pronounced that it now faces a host of competitors eager to make their own mark. These days, most of the major contenders are owned by multinational spirits companies that, like Bacardi, have ample resources to bring to the fight.
Read more at: http://spiritsbrands.com/press-releases/news/bacardi-buys-patron-at-5-1-billion/