FDBusiness.com

Bacardi to Acquire PATRÓN Tequila For $5.1 Billion

 Breaking News
  • South Korean Food Group Agrees $1.84 Billion US Deal CJ CheilJedang of Seoul, South Korea, is continuing its international expansion after agreeing to acquire a majority stake in Schwan’s Company, a leading US food business, for about US$1.84 billion. The transaction will include 80% of Schwan’s Company and specific subsidiaries that focus on foods sold in retail and grocery channels and food-service venues. The Schwan [...]...
  • The World’s Biggest Meat Alternative Production Facility Opens The world’s biggest meat alternative production facility has been officially opened by Quorn Foods at its Belasis site in Billingham, in the North East of England. The factory expansion of 9,500 sq m will double production capacity of Quorn’s core products, adding approximately 20,000 tonnes per annum. It is part of a £150 million investment [...]...
  • HEINEKEN Ireland is First Drinks Company in Ireland to Achieve Business Working Responsibly Mark HEINEKEN Ireland is the first drinks company in Ireland to achieve the Business Working Responsibly mark from Business in the Community in recognition of its responsible and sustainable business practices. The Mark, developed by Business in the Community Ireland, and audited by the NSAI, is based on ISO 26000 and is the only independently audited [...]...
  • Starch Europe Announces Winners of 2017-2018 Safety Awards EU starch producers are proud to renew their firm commitment to continuously improve safety practices and to achieve a safer working environment, through their contribution to the 4th exercise of the Starch Europe Safety Programme. The Starch Europe Safety Programme, launched in 2014, recognises the best performing EU starch plants in terms of reducing workplace [...]...
  • UK Discounters Off to a Strong Start in Race For Christmas The latest grocery market share figures from Kantar Worldpanel, for the 12 weeks to 4 November 2018, show shoppers have made an additional 14 million trips to Aldi and Lidl compared with last year. Fraser McKevitt, head of retail and consumer insight at Kantar Worldpanel, comments: “Five years ago, just under half of British households were [...]...

Bacardi to Acquire PATRÓN Tequila For $5.1 Billion

Bacardi to Acquire PATRÓN Tequila For $5.1 Billion
January 24
10:14 2018

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.

About Author

mike

mike

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • November 21, 2018expoSE European Asparagus and Strawberry Fair
  • November 27, 2018Health Ingredients Europe
  • November 28, 2018FOOD & LIFE
  • December 3, 2018P&P 2018
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements