Bacardi to buy 100% of Patron

WASHINGTON: Bacardi, the liquor company known best for its rum, announced Monday it is buying maker Patron in a deal worth

Bacardi had been a minority shareholder in Patron for about

“As we move forward together, we will continue to pursue perfection as the guiding light in everything Patron stands for,” Facundo Bacardi, chairman of the family-owned company, said

The deal will make Bacardi the number one spirits player in the super-premium segment in the US market, and the second largest spirits company in market share

Bacardi already owns two premium tequila brands, along with Grey Goose vodka and Bombay Sapphire gin, along with its eponymous rum and

The privately- held Patron makes several versions of its premium tequila, which it said to be the fastest-growing segments of

“Adding Patron 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 Patron around the world, increasing scale in the US and globally,” said Bacardi CEO