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Latin America

Judi Lynn

(160,527 posts) Tue Jan 23, 2018, 10:29 PM Jan 2018

Bacardi buys tequila maker Patron in $5.1bn deal

Bacardi buys tequila maker Patron in $5.1bn deal
23 January 2018

Alcohol giant Bacardi has said it will buy tequila maker Patron, as demand grows for high-end versions of the spirit around the world.

Bacardi says the deal values Patron at about $5.1bn (£3.6bn).

Best known for its rum, Bacardi took a minority stake in the tequila firm a decade ago and the two companies have worked closely together since then.

Bacardi already owns the Cazadores and Corzo tequila brands and is the world's biggest privately-owned spirits firm.

More:
http://www.bbc.com/news/business-42784388