HAMILTON, Bermuda & SCHAFFHAUSEN, Switzerland--(BUSINESS WIRE)--Apr 30, 2018--Bacardi Limited, the largest privately held spirits company in the world, announced today the completion of a transaction that makes the family-owned company the sole owner of Patrón Spirits International AG and its PATRÓN ® brand, the world’s top-selling super-premium tequila.
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Bacardi Limited completes the transaction that makes the family-owned company the sole owner of Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling super-premium tequila. (Photo: Business Wire)
The transaction, which was announced in late January, closed today and follows a successful relationship the two companies have had since Bacardi’s initial acquisition of a 30% minority stake in Patrón Spirits in 2008.
According to the most recent International Wines & Spirits Record (IWSR) data, the acquisition makes Bacardi the number one spirits company in the super-premium segment in the United States and the second largest in market share by value in the U.S. Tequila remains one of the fastest-growing categories in the spirits industry, with PATRÓN ® the clear market leader in the super-premium segment.
“We are delighted to welcome the team from Patrón into the Bacardi family,” said Mahesh Madhavan, CEO of Bacardi Limited. “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 United States 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.”
About Bacardi Limited
Bacardi Limited, the largest privately held spirits company in the world, produces and markets internationally recognized spirits and wines. The Bacardi brand portfolio comprises more than 200 brands and labels, including BACARDÍ ® rum, GREY GOOSE ® vodka, DEWAR’S ® Blended Scotch whisky, BOMBAY SAPPHIRE ® gin, MARTINI ® vermouth and sparkling wines, CAZADORES ® 100% blue agave tequila, and other leading and emerging brands including WILLIAM LAWSON’S ® Blended Scotch whisky, ST-GERMAIN ® elderflower liqueur, and ERISTOFF ® vodka.
Founded more than 156 years ago, in Santiago de Cuba on February 4, 1862, family-owned Bacardi operates more than 20 production facilities including bottling, distilling and manufacturing sites, and sells its brands in more than 170 countries. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited. www.bacardilimited.com
About Patrón Spirits
Patrón Spirits is a leading manufacturer of super- and ultra-premium distilled spirits. Its portfolio includes the following product lines: PATRÓN ®, ROCA PATRÓN ®, GRAN PATRÓN ®, XO CAFE ®, CITRÓNGE ®, PYRAT ®, and ULTIMAT ®, as well as limited and special edition distilled spirits. PATRÓN ® tequilas and liqueurs, PYRAT ®, and ULTIMAT ® are available in more than 100 countries and islands across the world and sold in global duty-free outlets. www.patronspirits.com
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CONTACT: Bacardi Limited
Amy Federman, 441-294-1110
KEYWORD: UNITED STATES BERMUDA EUROPE NORTH AMERICA CARIBBEAN FLORIDA SWITZERLAND
INDUSTRY KEYWORD: LUXURY RESTAURANT/BAR MANUFACTURING PACKAGING OTHER MANUFACTURING RETAIL FOOD/BEVERAGE SUPERMARKET WINE & SPIRITS
SOURCE: Bacardi Limited
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PUB: 04/30/2018 11:31 AM/DISC: 04/30/2018 11:31 AM