Spirit Cruises January 2023 Leaderboard

Bacardi Picks Up Patron Tequila in a Massive Consolidation Deal

by Alexander Frane on Jan 24, 2018 in Liquor

Liquor company consolidation made another massive stride on January 22, as Bacardi Limited, the makers of Bacardi Rum, announced it had acquired the makers of Patrón Spirits in a deal valued at $5.1 billion, CBNC reports.

Bacardi purchased 30% of Patrón’s stock back in 2008, but now the Bermuda based company will be full owner of Patrón, adding the premium tequilas to its already impressive portfolio of some two hundred spirits. This transaction, which is set to finalize in the first half of 2018, makes Bacardi the second largest spirits company in the world after Diageo, who owns Johnnie Walker Scotch as well as many other scotch brands.

Patrón’s current owner, Co-Founder John Paul DeJoria, is set to cash out with the deal. DeJoria purchased the majority of the company back in 2008, when Bacardi first invested in it; he also famously once lived out of his car on the edge of poverty before becoming a self-made billionaire.

This consolidation echoes those of the beer industry, like AB-InBev’s purchase of SAB Miller in 2015 for $104 billion, and it’s unlikely to be the last major acquisition anytime soon.  

Photo via Patron Tequila on Facebook

Recent Articles
spacer

Feedback

How are we doing? Tell us what you like or don't like and how we can improve. We would love to hear your thoughts!

*Name:
*E-mail:
*Suggestions:
 
Pamper Yourself at These Spas with Bars in Philadelphia

Pamper Yourself at These Spas with Bars in Philadelphia

Whether you're going solo or heading out with friends, we've got just the place for your to relax and enjoy a good drink...read more ›

by Jessie Donofrio Apr 5, 2023
The Best Mocktails, Zero Proof, & Non-Alcoholic Drinks in Philadelphia

The Best Mocktails, Zero Proof, & Non-Alcoholic Drinks in Philadelphia

Not drinking alcohol tonight? These bars and restaurants have you covered with inventive, thoughtful, and down...read more ›

by Michelle Cassidy Jan 11, 2023
Inflation Hits PA Wine & Spirits with 4% Price Increase Across 3,500 Products

Inflation Hits PA Wine & Spirits with 4% Price Increase Across 3,500 Products

The PLCB, announced that a 4% price increase would go into effect on 3,554 of its most popular wine and spirit...read more ›

by Jessie Donofrio Jan 9, 2023
SPONSORED
The Best Cocktail Bars in Philadelphia

The Best Cocktail Bars in Philadelphia

Here it is - the definitive list of Philadelphia's best cocktail bars....read more ›

by Drink Philly Dec 13, 2017
The Philly Distiller Who Got Laid Off and Moved to Hawaii to Make Gin

The Philly Distiller Who Got Laid Off and Moved to Hawaii to Make Gin

In this segment we speak to Olivia Babiec, the former Philadelphia Distiller who moved to Hawaii to make gin...read more ›

by Jessie Donofrio Jan 5, 2023
Bars & Restaurants that Host Private Events in Philadelphia

Bars & Restaurants that Host Private Events in Philadelphia

Holidays, birthdays, weddings, or any private event - Philadelphia has you covered...read more ›

by Drink Philly Dec 5, 2022
Where to Celebrate Philly Cider Week 2022, October 23-30

Where to Celebrate Philly Cider Week 2022, October 23-30

The fourth annual Philadelphia Cider Week is being celebrated from Sunday, October 23 through Sunday, October 30...read more ›

by Jessie Donofrio Oct 21, 2022
Enjoy Fall Weather & PA Ciders in a Historic Setting at CiderFest, October 15 & 16

Enjoy Fall Weather & PA Ciders in a Historic Setting at CiderFest, October 15 & 16

Fall is here and what better way to celebrate than at CiderFest at the historic Woodford Mansion in Fairmount ...read more ›

by Drink Philly Oct 13, 2022
WitchCraft: Halloween Themed Beer Fest in the Middle of the NJ Woods Returns October 14 & 15

WitchCraft: Halloween Themed Beer Fest in the Middle of the NJ Woods Returns October 14 & 15

The team behind the Atlantic City Beer & Music Festival have conjured up a spellbinding event - WitchCraft - a...read more ›

by Jessie Donofrio Oct 12, 2022
LMNO: An Inside Look at Their 'Choose Your Own Adventure' Cocktail Menu

LMNO: An Inside Look at Their 'Choose Your Own Adventure' Cocktail Menu

Fishtown has a new Baja Mexican destination for tequila and mezcal fans...read more ›

by Drink Philly Feb 14, 2022
SPONSORED
View all Articles

Sign up to get weekly drinking news, bar reviews, events and more sent directly to your inbox!

Close