STREAMING NOW: Watch Now

Bacardi buys Patr-n for $5 billion

Shots all around: Bacardi is buying the maker of Patr-n.Bacardi Limited, which owns the rum brand and hundreds...

Posted: Jan 26, 2018 2:19 PM
Updated: Jan 26, 2018 2:19 PM

Shots all around: Bacardi is buying the maker of Patr-n.

Bacardi Limited, which owns the rum brand and hundreds of other spirits, said Monday that it's acquiring the tequila company in a deal worth $5.1 billion. It's expected to close in the first half of this year.

Patr-n Spirits International is known for its premium tequila, packaged in distinctive dome-shaped bottles. The brand's been around for nearly 30 years.

Bacardi says it's held a 30% stake in the tequila maker for the last decade.

This new deal means that Bacardi will add the tequila label to its 200 brands, which include Bacardi rum, Grey Goose vodka, Dewar's scotch whiskey and Bombay Sapphire gin.

Related: Bud falls off list of America's 3 favorite beers

It would also make Bacardi the second-biggest liquor company in the U.S., according to the Distilled Spirits Council, the industry group. Diageo, the company behind Johnnie Walker, Smirnoff and Captain Morgan, is number one.

The appetite for top-shelf tequila is also huge. According to council spokesman Frank Coleman, total tequila sales in the U.S. jumped 120% between 2002 and 2016. Sales for just the super-premium stuff, which also includes brands like Don Julio 1942 and Avion Reserva 44, soared 700% over that same period.

Bacardi, which is privately owned, is a sprawling family business based in Bermuda. It was founded in 1862.

Oregon Coronavirus Cases

Data is updated nightly.

Confirmed Cases: 20224

Reported Deaths: 339
CountyConfirmedDeaths
Multnomah465393
Washington294324
Marion278968
Umatilla216726
Clackamas148438
Malheur73412
Deschutes5678
Lane5523
Jackson4371
Yamhill41312
Lincoln4119
Union3922
Jefferson3413
Morrow3293
Polk30112
Linn26510
Klamath2001
Hood River1780
Wasco1783
Benton1616
Douglas1451
Josephine1102
Columbia900
Coos900
Clatsop830
Crook431
Baker370
Tillamook340
Lake320
Wallowa191
Sherman150
Curry140
Harney100
Gilliam40
Grant30
Unassigned00
Wheeler00
Eugene
Few Clouds
55° wxIcon
Hi: 80° Lo: 54°
Feels Like: 55°
Corvallis
Clear
54° wxIcon
Hi: 81° Lo: 54°
Feels Like: 54°
Roseburg
Clear
57° wxIcon
Hi: 85° Lo: 56°
Feels Like: 57°
North Bend
Clear
57° wxIcon
Hi: 68° Lo: 54°
Feels Like: 57°
KEZI Radar
KEZI Temperatures
KEZI Planner

LATEST FORECAST

Community Events