Bacardi Limited completed the transaction that makes the family-owned company the sole owner of Patrón Spirits International AG and its Patrón brand. The transaction, which was announced in late January, closed on April 30 and follows “a successful relationship the two companies have had” since Bacardi’s initial acquisition of a 30% minority stake in Patrón Spirits in 2008.

According to the most recent International Wines & Spirits Record (IWSR) data, the acquisition makes Bacardi the number one spirits company in the super-premium segment in the United States and the second largest in market share by value in the U.S. Tequila remains one of the fastest-growing categories in the spirits industry. “We are delighted to welcome the team from Patrón into the Bacardi family,” said Mahesh Madhavan, CEO of Bacardi Limited. “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  Patrón tequila for years to come.”