Bacardi is reportedly buying Patrón in a deal valued at $5 billion
General World News
Liquor conglomerate Bacardi has agreed to buy Patrón in a deal valuing the tequila maker at $5.1 billion, according to a
report by The Wall Street Journal
Bacardi previously owned 30% of Patrón Spirits International, according to WSJ.
Patrón makes about $1.6 billion in revenue from its namesake tequila as well as a
handful of other hard spirits
, according to Euromonitor.
The deal comes a little more than six months after premium-tequila competitor Casamigos, which was cofounded by George Clooney,
was sold for as much as $1 billion to Diageo
Bacardi, which also owns Grey Goose vodka and
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