AUSTIN, TX — Austin billionaire John Paul DeJoria is selling his majority stake in Patrón Spirits International AG, maker of the popular Patrón tequila, as part of a deal valued at $5.1 billion, officials announced on Monday.
The deal calls for Global spirits giant Bacardi Limited to acquire Patrón Spirits International as reported by multiple media outlets, including Forbes. The world’s largest private spirits business, Bacardi already owns a 30 percent stake in Patrón. Its purchase of Patrón Spirits International is expected to close in the first half of this year.
The purchase adds an additional brand-name liquor to Bacardi’s roster along with Grey Goose vodka, Dewar’s scotch whiskey and a fleet of eponymous rums, as Forbes reported.
As part of the acquisition, Patrón cofounder DeJoria ...Read More