Bacardi completed acquisition of Patrón Spirits in US. Credit: Bacardi Limited.

Global spirits company Bacardi has completed the transaction to acquire Patrón Spirits International and its premium tequila brand Patrón in the US.

The transaction was announced by the company in January this year when Bacardi agreed to acquire all of Patrón Spirits for $5.1bn. In 2008, Bacardi acquired a 30% stake in the company.

Bacardi CEO Mahesh Madhavan said: “We are delighted to welcome the team from Patrón into the Bacardi family.

“We continue to be inspired by their passion, culture of caring, attention to detail, and unwavering commitment to quality. Our promise is to uphold these qualities to ensure the product integrity, innovative marketing, and commercial success of Patron tequila for years to come.”

With the completion of the acquisition, Bacardi is said to be the number one spirits company in the super-premium segment in the US.

“Patrón has been a personal passion of mine for nearly 20 years, and I am thrilled to now be a part of the Bacardi family.”

Patrón Spirits president and CEO Edward Brown said: “This is a momentous day for all of us at Patrón Spirits, and we are optimistic about the opportunities that lie ahead.

“With Bacardi and its global presence, there is vast potential to grow the Patrón brand outside the US which is particularly exciting. Patrón has been a personal passion of mine for nearly 20 years, and I am thrilled to now be a part of the Bacardi family.”

Other brands in Bacardi’s portfolio include Grey Goose vodka, Bombay Sapphire gin and Dewar’s Scotch whisky.