Toast to That

Liquor giant drinks up Austin celebrity's tequila brand in multibillion-dollar deal

The deal is valued at more than $5 billion.

You can’t blame Austin billionaire John Paul DeJoria if he’s having a couple of margaritas right about now — booze behemoth Bacardi Ltd. is buying DeJoria’s Patrón tequila brand in a deal valued at $5.1 billion.

On January 22, Bacardi said it’s assuming full ownership of Patrón Spirits International AG and its top-selling Patrón brand of high-end tequila, along with its brands of liquor, vodka, and rum. Bacardi had owned a 30 percent stake in Patrón since 2008, according to the Wall Street Journal.

DeJoria and business partner Martin Crowley, who died in 2003, launched Patrón in 1989. Today, the company produces more than 36 million bottles of tequila each year at its plant in the Mexican state of Jalisco.

Aside from the trademark Patrón tequila, brands in the Patrón Spirits International portfolio include Roca Patrón tequila, Gran Patrón tequila, XO Cafe liqueur, Citrónge liqueur, Pyrat rum, and Ultimat vodka. Market research firm Euromonitor says Patrón tequila racked up U.S. sales of $1.6 billion in 2016.

“We started this business more than a quarter century ago with a singular mission — to create an ultra-premium, luxury tequila,” DeJoria says in a release.

“John Paul’s vision, integrity, and courage are responsible for introducing the world to simply perfect tequila," says Facundo Bacardi, chairman of the family-owned company that bears his name. "As we move forward together, we will continue to pursue perfection as the guiding light in everything Patrón stands for.”

DeJoria, 74, built his initial fortune as co-founder of hair care products company John Paul Mitchell Systems, which started in 1980 and where he remains chairman. As of January 22, Forbes estimated his net worth at $3.4 billion.

After the Bacardi deal closes, DeJoria will serve as a Patrón “ambassador” in the role of chairman emeritus. He’ll collaborate with Bacardi on philanthropic and environmental causes.

Bacardi already sells two brands of tequila — Cazadores and Corzo — but Patrón is a much higher-profile brand. Other brands in the Bacardi portfolio include Bacardi rum, Grey Goose vodka, Bombay Sapphire gin, Dewar’s Scotch whisky, Martini vermouth, and sparkling wines.

celebrities cocktails luxury drinks

Self-driving Roller Coaster

More self-driving cars expected to roll out in Austin for 2025

Photo courtesy of Waymo via KVUE

Various brands offering self-driving cars are on-and-off in Austin.

Expect to see more self-driving rideshare vehicles, also known as robotaxis, on Austin roads next year.

Robotaxi company Waymo, which you may have already seen on Austin's roads, is partnering with Uber. At some point next year, customers will be able to use the Uber app to call a self-driving ride.

Austin-based company Avride is in the testing phase and plans to roll out its robotaxis next year.

Currently, Volkswagen ADMT and Amazon's Zoox are in the testing phase in Austin, while Hyundai's Motional is in the mapping phase.

Last year, robotaxi company Cruise paused operations in Austin after the California Department of Motor Vehicles revoked the company's permits to operate driverless vehicles in the state. And last week, General Motors said it would no longer fund the company because of the time and resources needed.

This way of getting around has come with its safety concerns and issues. The city is tracking those concerns. According to the Transportation Department, the problems span from blocking the roads and parking in front of people's homes for weeks with lights beaming through their windows, to actual wrecks.

Since July 2023, robotaxis have been involved in 75 incidents. Only 21 of those incidents happened in 2024. It's important to note that Cruise has not been operating in Austin this year.

Since July 2023, driverless rideshare vehicles have been involved in 22 near collisions, eight collisions and seven instances where driverless taxis ignored directions from the Austin Police Department (APD).

According to the data, at least four of those Austin police incidents happened in recent months. The issues varied from driving through police checkpoints, to malfunctioning and getting stuck at an APD road closure near pedestrians, causing safety concerns.

A Waymo spokesperson said their vehicles have gesture recognition capabilities, which they've been training APD officers on using.

As the report shows, sometimes it does not work and Waymo said it is working to improve that. The spokesperson said that as of just last week, Waymo's First Responder Program has been independently verified by TÜV SÜD, making Waymo the first autonomous vehicle (AV) company to receive third-party validation for our emergency response protocols. They also said the data to date indicates the Waymo Driver is already reducing traffic injuries and fatalities in the places where the company currently operates.

Read the full story and watch the video at KVUE.com.

traffic self-driving cars innovation