PATRÓN TRANSACTION COMPLETE
JOHN PAUL DEJORIA Co-Founder of Patrón Tequila has announced the completion of a transaction that makes him principal owner of Patrón Spirits International AG (formerly Caribbean Distillers Corporation, Limited), the parent company of The Patrón Spirits Company. A subsidiary of Bacardi Limited now holds a significant minority stake in the company. The transaction, which was announced in late July, closed in November, and resulted in a payment to the Estate of the late Martin Crowley, co-founder of Patrón, in exchange for its interest in the company. In accordance with the terms of Mr. Crowley’s will, the Estate will contribute the money to the Windsong Trust, a charitable trust created by Mr. Crowley to support the education of underprivileged children. Although Bacardi Limited and The Patrón Spirits Company intend to operate independently, the relationship is expected to lead to beneficial synergies for Patrón.