The purchase comes after Bacardi, which is currently the largest privately held spirits company in the world, took an initial 30% stake in Patrón Spirits in 2008.
‘We are delighted to welcome the team from Patrón into the Bacardi family,’ said Mahesh Madhavan, CEO of Bacardi. ‘We continue to be inspired by their passion, culture of caring, attention to detail, and unwavering commitment to quality. Our promise is to uphold these qualities to ensure the product integrity, innovative marketing, and commercial success of Patrón tequila for years to come.’
Included in the purchase with Patrón tequila is its many expressions including Roca Patrón, Gran Patrón, Xo Café and Citrónge as well as liqueurs Pyrat and Ultimat.
However, for the UK on-trade there will be no change of faces as Patrón's team has been under the Bacardi umbrella for some time, after the tequila brand moved its distribution from Cellar Trends to Bacardi Brown-Forman Brands in 2014. Patrón ambassador Karine Tillard is also already a part of Shervene Shahbazkhani's Bacardi advocacy team based in London.
‘This is a momentous day for all of us at Patrón Spirits, and we are optimistic about the opportunities that lie ahead,’ said Patrón Spirits President and CEO Edward Brown. 'With Bacardi and its global presence, there is vast potential to grow the Patrón brand outside the United States, which is particularly exciting.
‘Patrón has been a personal passion of mine for nearly 20 years, and I am thrilled to now be a part of the Bacardi family.’