Bacardi Buys Minority Stake in Patron

**Alert**John Paul DeJoria, co-founder of Patrón tequila today announced an agreement that will make him principal owner of the parent company of The Patrón Spirits Company. In addition, Bacardi Limited will purchase a significant minority stake in the company through a subsidiary, according to Barry Kabalkin, vice chairman of Bacardi Limited. Specific terms of the agreement are confidentialThe transaction will result in a payment to the estate of the late Martin Crowley (co-founder of Patron) in exchange for its interest