Bacardi to buy premium tequila maker Patron in $5.1 billion deal
Updated: Tue, Jan 23, 2018
02:35 am
02:35 am
Reuters
Davos 2020: Income tax cut may boost demand, M&M MD Pawan Goenka on Budget 2020Bacardi Ltd will buy premium tequila maker Patron Spirits International AG in a $5.1 billion deal, the family-owned liquor company said on Monday, as it seeks to expand in the United States.
Bacardi, known for Grey Goose vodka and its namesake rum, has held a minority stake in Patron since 2008.
The deal will make Bacardi the No.2 spirits company by market share in the United States, Bacardi said.
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