Bacardi Acquires Ilegal Mezcal

Dear Client:After months of speculation and reports, Bacardi announced this morning that it has fully acquired Ilegal Mezcal. No financial details were disclosed, but people familiar with the matter told Bloomberg the deal would value Ilegal at less than $200 million [see WSD 05-31-2023]. "We believe that Ilegal has the credentials to own and lead the super-premium mezcal category at a global level," says Bacardi vice chairman Barry Kabalkin. "Ilegal perfectly complements our portfolio and bringing it into our business sets