From Cuba to Bermuda
On 14 October 1960 Cuba's revolutionary government seized all of Bacardi's operations and assets in Cuba without compensation.1,2 In 1965 Bacardi International Limited moved from the Bahamas to Bermuda.1 In 1992 five separate Bacardi companies were brought together as Bacardi Limited, a single firm based in Bermuda, with Manuel Jorge Cutillas as its first chairman.1,10
Scotch through Martini & Rossi
Cutillas played a key role in the 1993 deal, which doubled Bacardi's size and brought it the William Lawson's blended Scotch brand.1,4,5 The deal also brought Macduff Distillery, whose single malt was sold as Glen Deveron.1,4,5
Dewar's and its distilleries
Diageo had to sell Dewar's for US approval of the Guinness and Grand Metropolitan merger, and the deal brought Bacardi four distilleries: Aberfeldy, Aultmore, Craigellachie and Royal Brackla.1,6,7 In 2007 Bacardi invested $250m to expand production at its Glasgow site and build a new maturation site, where whisky ages in casks, at Poniel.11 In 2014 John Dewar & Sons Ltd. began releasing single malts from all five of its distilleries as the Last Great Malts.1,12 Aberfeldy had been sold as a single malt for some time, but bottlings from the other distilleries had been rarities.1,12
Into American whiskey
In 2010 Bacardi invested in Angel's Envy.13 In May 2014 Michael J. Dolan, a board member since 2009, became Bacardi's interim chief executive.14 That year Bacardi made a minority investment in Stillhouse Spirits, an American whiskey and vodka maker founded by Brad Beckerman.15,16 In March 2015 it bought Angel's Share Brands, the Louisville maker of Angel's Envy, which the late Lincoln Henderson created.17,18,19 In 2016 the Angel's Envy Distillery opened in downtown Louisville; before that, Angel's Envy was distilled off-site.18,20 In November 2019 Bacardi bought substantially all of the assets of Stillhouse, and founder Brad Beckerman left the business.15,16
Stakes in Compass Box and Teeling
In April 2015 Bacardi confirmed it had bought a minority stake in Compass Box the August before, and would act as its long-term supplier.17,21,22 In June 2017 Bacardi took a minority stake in the Teeling Whiskey Company of Dublin, its first move into Irish whiskey.8,17,23 Under the deal, Bacardi was to become the US importer of Teeling whiskey.8,17,23 In October 2017 Mahesh Madhavan, a 20-year Bacardi veteran, took over as chief executive from Dolan, who retired.24 In 2022 Bacardi sold its Compass Box stake, as Cælum Capital, a London investment firm, became the majority shareholder.25,26 Also in 2022, Bacardi increased its Teeling stake to become the majority shareholder.8,9,23 On 23 June 2026 it became the sole owner, while founders Jack and Stephen Teeling stayed on as advisers.1,8,9