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The family managed & owned Bacardi Limited – globally which happens to be the biggest privately held spirits producing company, announced on January 22nd that it has come to an agreement to acquire 100% ownership of Patrón Spirits International AG and its PATRÓN brand, however subjected on closing terms. The acquisition deal has been pegged at an enterprise value of around $5.1 Billion & is expected to finalize in the first half of early 2018.
Patrón was established by two American business visionaries John Paul DeJoria and Martin Crowley with a personally driven mission to make a tequila that was “simply perfect” – an underlying thought & North Star principle which navigates all businesses today in terms of value creation. Tequila arguably, is one of the most rapidly growing alcohol based beverage in the product verticals of spirits, where Patrón is the market pioneer in the premium section. What makes Patrón stand out among the rest could be found in its sourcing & manufacturing. It’s produced from the highest-quality Weber Blue Agave & are distilled through a standard time-honored process with precision. The tequila is then packaged & bottled with their iconic styling which till date reflects the flawlessness around the globe for the brand & their produce.
John Paul DeJoria, Co-founder of Patrón tequila says, “We started this business more than a quarter century ago with a singular mission – to create an ultra-premium, luxury tequila. Today, with that continued commitment to quality and several other extraordinary brands in our portfolio, we produce more than three million cases of distilled spirits annually that are enjoyed around the world. I am proud of what our entire organization has accomplished, and the work we do in giving back to the people and communities in which we operate.”
This acquisition has been a result of a one of a kind relationship which could be traced almost a decade back when Bacardi bought a minority stake in Patrón in the year 2008. As per IWSR data, this transactional deal will singlehandedly make Bacardi the largest spirits company in the super-premium customer segment & the second largest spirits company in market share by value in United States.
@bacardiusa acquires @patron tequila in a full buy out deal worth $5.1 Billion & is expected to have the separate entities integrated by early 2018 at the latest. @johnpauldejoria – a literal example of rags to riches story who Co-founded Patrón with business partner Martin Crowley will continue with functional governance & management at their apex levels as Chairman Emeritus. . . . Read more at: www.foodandnightlife.com . . . . . 🛎️ January Issue of Our Flagship Magazine OUT NOW – Subscription & Contact Link in Bio! . . . FOLLOW US 👉 @fnlindia . . . . . . . #weekend #food #foodie #foodporn #foodblogger #dinner #party #drink #drinks #cocktails #instagood #happy #love #foodstagram #health #healthy #fit #fitness #gym #travel #fashion #makeup #model #music #style #design #beauty #beautiful #magazine #FNLIndia
Facundo L. Bacardi, Chairman of Bacardi Limited on this occasion says, “Patrón and Bacardi were both founded on the principles of quality, integrity, and innovation, and driven by a sense of fearlessness – it’s in our DNA. It has been a privilege being a partner for a number of years with a remarkable entrepreneur like John Paul DeJoria. John Paul’s vision, integrity, and courage are responsible for introducing the world to simply perfect tequila. As we move forward together, we will continue to pursue perfection as the guiding light in everything Patrón stands for.”
DeJoria will serve as an Ambassador for Patrón with an acting capacity of Chairman Emeritus following the closing of this deal. He is also expected to continue working with Bacardi on various philanthropic projects and environmental causes. Few of Patrón’s efforts in the past have included support for food banks & their schemes for the underprivileged, education, and disaster relief. His prominent developmental agenda from a social responsibility side of things includes an eco-friendly reverse osmosis irrigation system, a process of recycling agave fibers from the tequila production process for use as fertilizer compost, and trees reforestation drives in the community around its tequila manufacturing sites that are currently operational in parts of Mexico.
The real life homeless to Billionaire man & an inspiration to many, John Paul DeJoria has also featured in ABC’s multi-Emmy Award-winning reality TV show Shark Tank, as an investor.
Image Credits: Bacardi | Playa Del Carmen | Dallas Observer | Shark PlayTap | Luxify
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