Bacardi, the world’s largest family-run spirits company, is looking to acquire brands in India in order to expand in the country. “We have been an acquisitive company traditionally. And we are now in the market to buy out brands, and that includes India," said company president and CEO Seamus McBride to Economic Times. Bacardi had shown an interest in Vijay Mallya's United Spirits, which is in exclusive talks with world’s largest spirit maker Diageo for a minority stake
sale.
Mallya has been in long discussion with Diageo and was in London over the weekend to discuss the deals with UK company's officials. Diageo's officials are now expected to visit India to take the negotiations further.
McBride has said that Bacardi is comfortable with minority stake also stating investment in Mexico's Patron Spirits. Bermuda-based Bacardi currently runs a 74:26 joint venture with Karnataka-based Gemini Distilleries. Currently it sells its brands like Bacardi rum, Eristoff vodka, Bacardi Breezer flavoured rum and Grey Goose vodka in the Indian market.
Bacardi could look at other opportunities besides USL like Radico Khaitan, India's second-largest spirits firm, which is said to be looking at strategic options. It could also look at other small to mid-sized players for acquisitions.
