Biggest drinks trade acquisitions of 2018

Bacardi buys Patron Tequila for $5.1 billion

While there was plenty of big acquisitions in 2018, none were as big as Bacardi’s acquisition of Patron Tequila, which snapped up the ultra-premium brand for $5.1 billion in January, eclipsing the Diageo / Casamigos deal by $4.1bn.

In 2017, George Clooney and Rande Gerber’s Tequila brand Casamigos made history when Diageo bought the fledgling company for US$1 billion.

The deal made Bacardi the number one spirits player in the super-premium segment in the US and the second largest spirits company in market share by value in America.

Best known for its rum, Bacardi has held a roughly 25% stake in Patrón Spirits International AG for nearly a decade, and also owns Grey Goose, Bombay Sapphire and Martini.

Patrón was founded in 1989 by Californian entrepreneur John Paul DeJoria, co-founder of Paul Mitchell hair products.

The brand launched at the audacious price of $37 a bottle when the ultra-premium Tequila category didn’t exist. It is now the industry’s leader, with US sales of $1.6 billion in 2016, according to Euromonitor.

Patrón produces over 36 million bottles of Tequila a year, while Casamigos was expected to produce 170,000 cases last year.

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