Bacardi is reportedly buying Patrón in a deal valued at $5 billion

Liquor conglomerate Bacardi has agreed to buy Patrón in a deal valuing the tequila maker at $5.1 billion, according to a report by The Wall Street Journal.
Bacardi previously owned 30% of Patrón Spirits International, according to WSJ.Patrón makes about $1.6 billion in revenue from its namesake tequila as well as a handful of other hard spirits, according to Euromonitor. 
The deal comes a little more than six months after premium-tequila competitor Casamigos,