Patrón Transaction Reaches Completion
John Paul DeJoria Becomes Principal Owner; Bacardi Buys Minority
Interest
LAS VEGAS (Business Wire EON/PRWEB ) November 21, 2008 --
John Paul DeJoria, co-founder of Patrón tequila—the world’s top-selling
ultra-premium tequila—today announced the completion of a transaction
that makes him principal owner of Patrón Spirits International AG
(formerly Caribbean Distillers Corporation, Limited), the parent company
of The
Patrón Spirits Company. A subsidiary of Bacardi
Limited, the largest privately held spirits company in the world,
now holds a significant minority stake in the company.
The transaction, which was announced in late July, closed today, and
resulted in a payment to the Estate of the late Martin Crowley,
co-founder of Patrón, in exchange for its interest in the company. In
accordance with the terms of Mr. Crowley’s will, the Estate will
contribute the money to the Windsong Trust, a charitable trust created
by Mr. Crowley to support the education of underprivileged children.
Although Bacardi Limited and The Patrón Spirits Company intend to
operate independently, the relationship is expected to lead to
beneficial synergies for Patrón.
About
The Patrón Spirits Company
Based in Las Vegas, Nevada, The Patrón Spirits Company imports and
markets top-selling ultra-premium spirits, including Patrón®
tequila, Pyrat® rum and Ultimat® vodka. Patrón®
tequila, one of the fastest growing spirits in the world, is now
available in more than 100 countries and islands across the globe. For
more information visit www.patronspirits.com.
About
Bacardi Limited
Bacardi Limited, the largest privately held spirits company in the
world, produces and markets a variety of internationally recognized
spirits. The Bacardi Limited brand portfolio consists of more than 200
brands and labels including: BACARDI®
rum, the world’s number-one selling rum; GREY
GOOSE®
vodka, the world-leader in super premium vodka; DEWAR’S®
Scotch whisky, the number-one selling blended Scotch whisky in the
United States; BOMBAY
SAPPHIRE®
gin, the fastest-growing premium gin in the spirits industry; CAZADORES®
blue agave tequila, one of the top-selling premium tequilas in the
world; MARTINI®
vermouth,
the world-leader in vermouth; and other
leading brands. For more information, visit www.bacardilimited.com.
See the original story at: http://eon.businesswire.com/releases/spirits_company/bacardi_limited/prweb1652914.htm
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