Bacardi to buy Greek-American’s Patron Spirits firm for $5.1 billion

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Bacardi to buy Greek-American’s Patron Spirits firm for $5.1 billionGreek Americans have always been a very active community in the United States reinforcing the historic ties between the two nations and certainly boosting tourist inflows over the years

AP reports from New York that Bacardi Limited plans to swallow the rest of Patron Spirits in a deal that values the tequila maker at $5.1 billion.

Patron’s current top executives will remain in place, while Greek-American co-founder John Paul DeJoria will become chairman emeritus and focus on philanthropy.

It’s a long way from being homeless – twice – to amassing a fortune of $3.1 billion and 248th on the Forbes 400 list of the richest Americans, but John Paul DeJoria – son of a Italian immigrant father and Greek immigrant mother, has achieved this feat.

He grew up in Los Angelese, is co-founder of the hair company John Paul Mitchell Systems and the Patron Spirits company producing tequila and known for his philanthropy and business ethics, including taking a stand against animal testing.

Read more here.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons Copyright: Charlie Llewellin License: CC-BY-SA

Source: thenationalherald.com

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