Bacardi Buys Stake in Patron

John Paul DeJoria, co-founder of Patrón tequila, will become the principal owner of parent company Caribbean Distillers Corporation. In addition, Bacardi Limited will purchase a significant, although unspecified, minority stake in the company through a subsidiary, according to Barry Kabalkin, vice chairman of Bacardi Limited. Specific terms of the agreement were not disclosed.Under the agreement, Bacardi will hold one seat on the board of directors of Patrón’s parent company. Kabalkin will be appointed to the board position. The transaction will