Business Wire

Bacardi to Acquire Patrón Tequila

Del

Family-owned Bacardi Limited, the largest privately held spirits company in the world, announced today that it is expanding its portfolio of premium spirits with a definitive agreement to acquire 100% ownership of Patrón Spirits International AG and its PATRÓN® brand, the world’s top-selling ultra-premium tequila. The transaction, which is subject to customary closing conditions, follows the successful relationship the companies have had for nearly a decade since Bacardi’s initial acquisition of a significant minority stake in Patrón in 2008. The transaction reflects an enterprise value for Patrón of US$5.1 billion and is expected to close in the first half of 2018.

This press release features multimedia. View the full release here: http://www.businesswire.com/news/home/20180122006459/en/

Bacardi agrees to acquire 100% ownership of Patrón Spirits International and its PATRÓN® brand, the  ...

Bacardi agrees to acquire 100% ownership of Patrón Spirits International and its PATRÓN® brand, the world’s top-selling ultra-premium tequila. (Photo: Business Wire)

According to the most recent IWSR data, this transaction will make Bacardi the number one spirits player in the super-premium segment in the U.S. and the second largest spirits company in market share by value in the critically important United States market.

Patrón was founded by entrepreneurs John Paul DeJoria and Martin Crowley with a mission to create a tequila that was “simply perfect,” a philosophy that continues to guide the business today. Patrón tequila is produced from the highest-quality 100% Weber Blue Agave, distilled through time-honored processes with meticulous precision and care, and delivered in iconic bottles that are a symbol of perfection around the world.

Tequila is one of the fastest-growing and most attractive categories in the spirits industry, with Patrón being the clear market leader in the super-premium segment. Super-premium brands continue to experience the fastest growth, and the trend is expected to continue.

“We started this business more than a quarter century ago with a singular mission – to create an ultra-premium, luxury tequila,” said John Paul DeJoria, co-founder of Patrón 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.”

“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,” said Facundo L. Bacardi, Chairman of Bacardi Limited. “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.”

Barry Kabalkin, Vice Chairman of Bacardi Limited and a member of the board of directors of Patrón since 2008, added, “Patrón is one of the world’s most coveted spirits brands, and we are thrilled to take our long-standing relationship to the next level. Working with the extraordinary team at Patrón, for whom we have the highest possible respect, we will stay true to our shared values. That’s a promise I made to John Paul, a one-of-a-kind visionary, and to Ed Brown, who over a period of nearly 20 years has successfully turned Patrón into an industry phenomenon. Patrón is a brand that transcends the tequila category and will uniquely complement the Bacardi portfolio of premium brands.”

“Adding Patrón to the Bacardi portfolio creates a tremendous opportunity for the brand outside of the United States as Bacardi’s international distribution network will help grow Patrón around the world, increasing scale in the U.S. and globally,” said Mahesh Madhavan, CEO of Bacardi Limited. “I look forward to working with the talented team at Patrón.”

The Patrón leadership team, including Chief Executive Officer Edward Brown, Chief Operating Officer David R. Wilson, and Chief Marketing Officer Lee Applbaum, will continue in their roles.

“Patrón is more than just a brand we have built; it has been a personal passion for nearly 20 years. I truly consider the Patrón team my extended family,” said Patrón President and CEO Edward Brown. “As Bacardi has had an ownership stake in Patrón for almost a decade now, and truly knows and appreciates our unique business, they are the best and most logical steward to continue our pursuit of perfection.”

Following the closing of the deal, DeJoria will serve as an ambassador for Patrón in the role of Chairman Emeritus and intends to work with Bacardi in further advancing their combined dedication to philanthropic projects and environmental consciousness. Patrón’s efforts have included support for food banks, education, and disaster relief, as well as development of an eco-friendly reverse osmosis irrigation system, a process of recycling agave fibers from the tequila production process for use as fertilizer compost, and reforestation of trees in the community surrounding its tequila manufacturing operations in Atotonilco el Alto, Jalisco, Mexico.

As one of the world’s leading premium spirits companies, Bacardi is known for preserving and nurturing the unique heritage of brands it acquires and will continue to work with the leadership of Patrón as the guardians and inspiration of the brand. Patrón is set to join an iconic, one-of-a-kind portfolio that includes BACARDÍ®, GREY GOOSE®, BOMBAY SAPPHIRE®, DEWAR’S®, MARTINI®, and a premium tequila portfolio of CAZADORES® and CORZO®.

About Bacardi Limited

Bacardi Limited, the largest privately held spirits company in the world, produces and markets internationally recognized spirits and wines. The Bacardi brand portfolio comprises more than 200 brands and labels, including BACARDÍ® rum, GREY GOOSE® vodka, DEWAR’S® Blended Scotch whisky, BOMBAY SAPPHIRE® gin, MARTINI® vermouth and sparkling wines, CAZADORES® 100% blue agave tequila, and other leading and emerging brands including WILLIAM LAWSON’S® Blended Scotch whisky, ERISTOFF® vodka, and ST-GERMAIN® elderflower liqueur.

Founded nearly 156 years ago, in Santiago de Cuba on February 4, 1862, family-owned Bacardi currently employs approximately 5,500, operates more than 20 production facilities, including bottling, distilling and manufacturing sites, and sells its brands in more than 170 countries. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited. www.bacardilimited.com

About Patrón

Patrón Spirits International AG is a privately held, leading manufacturer of ultra-premium distilled spirits. Its portfolio includes the following product lines: Patrón®, Roca Patrón®, Gran Patrón®, XO Cafe®, Citrónge®, Pyrat®, and Ultimat®, as well as limited and special edition distilled spirits. Patrón tequilas and liqueurs, Pyrat, and Ultimat are available in more than 100 countries and islands across the world and sold in global duty-free outlets. www.patronspirits.com

Editor’s Note: Multimedia assets for Bacardi and Patrón are available for download via BusinessWire and www.bacardilimited.com and www.patronspirits.com.

©2018 BACARDI

BACARDI, THE BAT DEVICE & OTHER MARKS RELATED TO PRODUCTS IN THIS NEWS RELEASE ARE TRADEMARKS OF BACARDI & COMPANY LIMITED OR OF OTHER SUBSIDIARIES OF BACARDI LIMITED

Contact information

Bacardi Limited
Media Contacts:
Amy Federman
afederman@bacardi.com
or
Greg Cohen
gcohen@patronspirits.com
or
Investors:
For investor-related inquiries:
bacardiinvestor@bacardi.com.

Om Business Wire

Business Wire
Business Wire
24 Martin Lane
EC4R 0DR London

+44 20 7626 1982http://www.businesswire.co.uk

(c) 2018 Business Wire, Inc., All rights reserved.

Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.

Følg saker fra Business Wire

Registrer deg med din epostadresse under for å få de nyeste sakene fra Business Wire på epost fortløpende. Du kan melde deg av når som helst.

Siste saker fra Business Wire

ResMed-sponsored Studies Show Combining Home Oxygen and Home Non-invasive Ventilation is a Cost Effective Treatment for COPD20.5.2018 21:15Pressemelding

ResMed (NYSE: RMD, ASX: RMD) announced today the results of two clinical analyses conducted for the U.K. and U.S., demonstrating the cost effectiveness of combining home oxygen therapy and home non-invasive ventilation (NIV) therapy for patients with persistent hypercapnia following a life-threatening exacerbation of chronic obstructive pulmonary disease (COPD). The ResMed-backed Home Oxygen Therapy – Home Mechanical Ventilation (HOT-HMV) health economic studies, presented today at the ATS 2018 International Conference, build on earlier data demonstrating the clinical and cost effectiveness of HOT-HMV therapy (i.e. combining home oxygen therapy with home NIV), compared to treating with oxygen alone. The U.K. study found that HOT-HMV treatment reduced exacerbation frequency and 28-day hospital readmission. The U.S. analysis found a 58.3 percent reduction in 30-day readmissions for HOT-HMV patients compared to those on home oxygen alone – and that HOT-HMV can actually save patients money

WELL Building Standard Gaining Momentum in Europe18.5.2018 14:47Pressemelding

As Greenbuild Europe came to a close in Berlin, the International WELL Building Institute™ (IWBI™) used the occasion to highlight how the WELL Building Standard™ (WELL™) has elevated health and well-being to the forefront of sustainability conversations across Europe. WELL continues to advance the healthy building movement as the premier standard for buildings, interior spaces and communities seeking to implement, validate and measure features that promote human health and wellness. The resonance of the program has spurred innovations across the building, design and construction industries, providing projects with customizable approaches to address geographical and cultural health concerns. To date, WELL has enrolled more than 830 projects encompassing over 155 million square feet of real estate in 32 countries worldwide. In Europe nearly 190 projects across 13 countries are engaged with WELL, representing 25% of global WELL project square footage. The strong growth of WELL over the pa

Utimaco Announces Intent to Acquire Atalla from Micro Focus18.5.2018 09:03Pressemelding

Utimaco, the global #2 in Hardware Security Modules (HSMs), today announced the intent to acquire the Atalla HSM and ESKM business lines from Micro Focus, which were previously owned by Hewlett Packard Enterprise (HPE) prior to the September 2017 merger of its Software business with Micro Focus. Germany-based Utimaco, active in the HSM market for over 35 years, is a global manufacturer of general purpose HSMs. Utimaco has built its market leading position focusing on indirect sales through OEM or channel business partners and selling its SecurityServer product line into industries as diverse as automotive, government, media & entertainment, smart metering, semiconductors, telecommunications and the banking and financial services sectors. Utimaco is traditionally strong in its German home market based on its longstanding German banking association certification (DK) and has recently achieved PCI accreditation for the SecurityServer product line. With the acquisition of Atalla, one of th

Janssen to Present New Data in Urothelial, Haematologic and Prostate Cancers at ASCO 2018, including Best of ASCO Selections18.5.2018 07:00Pressemelding

The Janssen Pharmaceutical Companies of Johnson & Johnson, today announced 21 company-sponsored abstracts will be presented at the 2018 American Society of Clinical Oncology (ASCO) Annual Meeting in Chicago, IL on June 1-5. New data analyses in support of a portfolio of products, including the investigational treatments erdafitinib and apalutamide, as well as approved treatments Imbruvica® (ibrutinib), Darzalex® (daratumumab), and Zytiga® (abiraterone acetate) will be highlighted across urothelial, haematologic and prostate cancers. Notably, Phase 2 trial results for the investigational compound erdafitinib, which received U.S. Food and Drug Administration (FDA) Breakthrough Therapy Designation, will be presented during an oral presentation on Sunday, June 3 (Abstract #4503).1,2 For haematologic cancers, Phase 3 data from the iNNOVATE study will provide the first look at ibrutinib plus rituximab versus placebo plus rituximab in patients with newly diagnosed and relapsed/refractory Wald

Karisma Hotels & Resorts to Open Allure Palazzi Kotor Bay Hotel by Karisma in June 201818.5.2018 06:00Pressemelding

Karisma Hotels & Resorts, an award-winning luxury hotel collection which owns and manages properties in Latin America, the Caribbean and Europe, is pleased to announce the opening of Allure Palazzi Kotor Bay Hotel by Karisma in June 2018. Built from the ground up in Montenegro’s idyllic Dobrota, the exclusive five-star beachfront property seamlessly blends stunning architecture and design with its mountainous landscape, offering spellbinding views of Kotor Bay. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180517006456/en/ Rendering of Allure Palazzi Kotor Bay (Photo: Business Wire) Sitting on Kotor Bay’s only private beach, the resort features 89 premium guestrooms, 10 villas with private beachfront access, and three breathtaking penthouse suites, each with a balcony or terrace. Allure Palazzi Kotor Bay’s accommodations encompass sumptuous bedding, divine amenities, and carefully selected color palettes bringing the sunny

Siemens Financial Services Selects GTC’s @GlobalTrade Platform for Management of Export Documentary Credits18.5.2018 04:00Pressemelding

GlobalTrade Corporation (GTC) has announced today that Siemens Financial Services (SFS) has selected its @GlobalTrade Multi-bank Trade Finance Platform for management of its export documentary credits. The platform will be initially rolled out in Germany and thereafter expanded to Siemens entities globally. The system will electronically aggregate all incoming documentary credits in a global database, facilitate review and approval, assist in preparation of compliant documents and enable faster presentation of documents electronically to advising and issuing banks. Gerhard Heubeck, Head of Trade Finance Advisory at Siemens Financial Services, reasons the need for the new system implementation as follows: "After many years of using one of the first standard IT systems available for export documentary credits, the time has come to find a successor tool capable to meet the new requirements such as multi-client capability, processing of new SWIFT message formats, global accessibility, and