- Liquor conglomerate Bacardi has agreed to buy Patrón in a deal valuing the tequila maker at $5.1 billion, according to a report by The Wall Street Journal.
- Bacardi previously owned 30% of Patrón Spirits International, according to WSJ.
- Patrón makes about $1.6 billion in revenue from its namesake tequila as well as a handful of other hard spirits, according to Euromonitor.
- The deal comes a little more than six months after premium-tequila competitor Casamigos, which was cofounded by George Clooney, was sold for as much as $1 billion to Diageo.
- Bacardi, which also owns Grey Goose vodka and read more >>>