Bacardi Ltd., owner of famous brands like Barcadi, Dewars, Martini, Bombay Sapphire, Grey Goose, and Molinari, acquires the owner of Patron Tequila.
The deal is valuing the company at US$5.1 billion.
Diageo Plc paid $1 billion to acquire George Clooney’s startup Casamigos in 2017. And Pernod Ricard SA acquired the Del Maguey brand in June.
While Becle SAB, producer of Jose Cuervo tequila, raised US$790 million in an initial public offering a year ago.