One Tequila, Two Tequila, Three Tequila Floor
If you have not heard that the Bat is purchasing a Tequila this week, then you must be living under a rock or you don't really drink tequila. Bacardi, one of the few privately held alcoholic beverage giants, announced that they are purchasing Patron for over five billion dollars. Patron had been its own independent company before this transaction, so now Bacardi becomes the second largest alcoholic beverage company in the US after Diageo - the Crown Royal, Tanqueray and Ketel people amongst a few other brands.
What does this mean to the average consumer? Probably not a whole lot because most people have no idea who really owns what in the industry anyway. I personally think this means that some pretty intense tequila wars are going to be coming along and that's going to be a good time for all of us. I wish I could drink tequila but at this point, I'll stick to Bacardi's gin offering in Bombay.
It is a great move for Bacardi because the trend for the new generation is to move away from rum. Bacardi had always been the king of white spirits for years but has recently taken a downtown since millenials are moving off to other things. Patron happens to be the world's number one tequila and is still incredibly cool and appealing to the new generations.