Facundo L. Bacardi is chair of the board of Bacardi Ltd., the third-largest global distilled spirits company, headquartered in Hamilton, Bermuda. Top management -- Comas Bacardi was high enough in the company to be mentioned frequently as a possible successor for del Valle -- had not been told such a plan was even being considered. Unlike the earlier plan, there was nothing voluntary about this one. Built into world's most popular liquor brand. The dispute could culminate Thursday at a stockholders' meeting in Florida, where the proposal that initiated the family struggle is to be debated and voted upon. Welcome to the Bacardi Family page at Surname Finder, a service of Genealogy Today. As for El Coco, the legendary palm tree withstands a distillery fire, five earthquakes, and countless hurricanes and so represents our spirit of never giving up. Offering the world a Cuban-sourced Bacardi rumit will happen. So long as reforms continue, the people who benefit the most are the Cuban people. The palm tree in the front yard was planted by fourteen-year-old Facundo Bacardi, Jr., the son of the company founder . A Caribbean business newspaper interpreted the company's announcement to mean he had resigned, and the annual report said he had "departed.". The clan is similarly averse to publicity despite its wealth and storied past, which stretches back to 1862, when Don Facundo Bacard Mass the great-great-grandfather of the current chairman . Thats the right thing to do for a privately held family company.SHANKEN: Which a lot of public companies cant do.BACARDI: They cant. The great-great grandson of Bacardi company founder Don Facundo Bacard Mass had other plans. Write by: . Facundo Bacardi y Moreau married Maria Ernestina Gaillard y Darrigol and had 6 children. Such were the early years for Don Facundo and Doa Amalia, Bacardis tenacious founders and the heroes of our story. Over the years, the Bacardi rum company and the Bacardi family expanded. 133 Sevilla Avenue. A large proportion of the shares, they say, are held by family members who do not work for the companies and pay little attention to the day-to-day affairs of the business. From Cuba, we went to exile, it was not a good life, no money, no family, no nothing. The phenomenal success of the firm -- three of every four bottles of rum sold in the United States and perhaps one of every two in the world bear the Bacardi name -- ensured that family stock in the network of companies would keep the Bacardis very comfortable. Fancisco Carrera Justiz, 5th Generation Bacard family member. Yum! Q: What did growing up watching the family business teach you about finances? Your name is Facundo Bacard. BACARD Rum and Lonely Whale create worlds first vinyl record made from single-use straws. All quotes delayed a minimum of 15 minutes. The proxy statement listed three reasons for the consolidation: to reduce the number of stockholders; to save "burdens and costs" of the reporting and regulatory requirements of being a public company, estimated at $200,000 per year, and to "reduce the diversity of stockholder interests, thereby simplifying the corporation's management decisions.". Stockholders owning less than 1,000 shares would receive cash for their interest, at $41 a share. Check out where well be this festival season! But later in their lives, he said, they want to work for the Bacardi companies. Historic Preservation. Instead of buying back shares, they proposed a reverse stock split: Every 1,000 old shares would be converted to one new share. We live in a world in which we as Americans have a view as to how our society should be. When Bosch retired in 1977 at age 78, family members were loath to appoint one of their own to succeed him. There were some diversification flops, particularly in the electronics and financial investment areas, but the public company remained solid. Don Facundo had been trained as a cognac distiller and he brought those techniques and sensibilities with him to Cuba. And the Bacardis, nearly all of whom had fled the country, went to courts worldwide to prevent the Cuban company from exporting rum labeled Bacardi. He , Marvin R. Shankenhas interviewed a host of fascinating people from all walks of life throughout the , Joe Gurrera, the owner of the popular gourmet market chain Citarella, still finds time to smoke a , An exclusive interview with Marvin R. Shanken, chairman of M. Shanken Communications. And the parties are not exclusive he invites people from all walks of life, spilling out from the Bacard home and into the street with dancing and laughter. I saw how quickly somebody can go from having something to having nothing. SHANKEN: There are a number of people who feel that ending the embargo would only accelerate the creation of an open society, because people could then own property, get jobs and export products. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited. Today, the facility in Catao, Puerto Rico, remains the largest premium rum distillery in the world. So its a different mindset. This is our story: over 150 years of never giving up. How did that happen?BACARDI: Im the chairman only because I have the support of my family. In a brief telephone interview, O'Hara said he could add little to what he had said at the stockholders' meeting and was prohibited from commenting further on the privatization plan because he could not discuss information that was not available to all stockholders. A: I pumped gas at a gas station - I was 14. They both use the bat as a central symbol. The family should have discussed it together.". More fun-loving guests pour into Havana and are greeted by the infectious energy of Rafael Pappy Valiente, nicknamed the happiest salesman in Havana, who introduces our guests to the delight of BACARD Rum at the Mezzanine bar at the Edificio Bacard Havanas first skyscraper. I can speak for my family in saying that the overriding goal when it comes to Cuba is to have an open and free society. The board, he said, had decided to ask for Comas Bacardi's resignation. Evolution of the BACARD Bat Device from its first known variation in the 1890s through our present-day bat device. Not with us. But of special interest to Cigar Aficionado, Bacardi also spoke at length about the familys Cuban heritage, and provided a window on his thinking about the U.S. trade embargo against Cuba, which has been in place for more than 50 years. After much experimentation, Don Facundo Bacardi developed a light rum that he then produced in a local still after he threw out the bats he found inside, giving rise to the company's trademark. We are making investments for the long-term. Rumours quickly spread across Cuba about the premium quality of el ron del murcielago or the rum of the bat. We've had an amazing arrary of covers during our 30-year history. We were trying to stick to the facts.". Now 50, he has been chairman of the board of Bermuda-based Bacardi Limited since 2005 and a director since 1993. But much more is involved in the struggle than the privatization plan, especially for the dissidents within the family who are fighting the proposal with legal and financial maneuvers. Birthplace: Sitges, Barcelona, Catalonia, Spain. Start Family Tree; Research 11103 Sw 79th Ave, Pinecrest, FL, We're 100% Free! In 2012, members of the fourth, fifth, sixth and seventh generations of our family come together in Puerto Rico to celebrate the 150th anniversary of our family company. He also asked del Valle to briefly delay announcement of his departure, so that he could attend the company Christmas party the next day, then leave on a planned vacation. In 2009, Bacardi Limited achieves a Triple Crown certification to lead the industry as the only major spirits company in the world to have all its facilities globally certified to be operating in accordance with the worlds most recognized standards for quality, environment, and health and safety, Bacardi becomes officially recognised as one of the worlds best-run companies. The Castros are in the past. "The timing was wrong. Del Valle agreed. Given the current restrictions on social gatherings, our festivals, music events and club nights are currently on hold. [6] The company's sales in 2007 were US$5.5 billion, up from $4.9 billion in 2006. bacardi owner net worth. BACARDI U.S.A., INC. CORAL GABLES, FL. The three teen-age children of Adolfo Comas Bacardi, for instance, want to work for their father's business this summer. By 1965, though still in exile, the business is back on track for the Bacardi Company. 2. Specifically, Facundo Bacardi Masso, youngest of four sons of a Catalonian stonemason. But why are you waitingwhy are you not proactive? Our Standards: The Thomson Reuters Trust Principles. Discover the outstanding breadth and depth of our family of brands and labels. He accompanied his request with a threat: Toten Comas Bacardi's salary was to be cut in half, Cutillas said, to be raised again if his objections to the proposal ceased. True to our roots, our family continues to share the story of our homeland in Cuba where BACARD Rum began over 158 years ago, and of course, we continue to produce an ever-growing family of the best rums in the world. They had one child. A Coca-Cola spokesman said the company has a policy of not commenting on "rumors of acquisitions, divestitures or mergers, and that applies in this case." They had one son: Luis Facundo Bacardi. And the company took care of its own. That is, until two devastating earthquakes hit your city and the outbreak of cholera that comes afterwards claims the lives two of your children and countless others. Then I became a busboy at some rundown restaurant. Its something to which well devote everything we have. We were so frugal, in fact, that we were pretty much a single-brand company from 1862 until 1992 (when Bacardi acquired General Beverage, which owns the Martini & Rossi group). I felt that I really needed to step up. Get your own Tropical Cocktail Kit plus a personalized BACARD Superior bottle! She invested in their shared vision for ten years, while raising their brood of young, strong minds. According to the Bacardi company, Don Facundo moved from his home country of Spain to Cuba, a Spanish colony, when he was 15 years old. wife Laura Bacard y Gaillard daughter Private child Facundo Ernesto Bacard y Gaillard son Luis J. Bacardi son Private child Facundo Bacardi father Lucia "Amalia" Victoria Moreau y. mother Facundo is the Managing Director of Apache Capital LLC, an investment company based in Coral Gables, Florida, that invests in a broad, diversified class of public and private assets. He spent the next decade perfecting blends that he was proud to serve (don't worry our Cantineros are a lot faster than that). On February 4, the company and BACARD rum celebrate their 150th anniversary - an extraordinary milestone few companies reach. SHANKEN: I understand. In 1986, Bacardi sold 265,000 cases more than its closest competitor, Smirnoff's vodka, according to figures compiled by industry analyst John C. Maxwell. I became chairman, with a non-family member who worked at a major consumer products company as the CEO. got your result, Facundo Bacardi Family Tree Find Best Design For You, William Henry Harrison Family Tree View Design & Templates, One Piece Luffy Family Tree View These Best Collection. . Everybody says that on the day that Fidel Castro passes away, America will act. And one Catalonian family decided to try to make its fortune there, and we ended up in having Bacardi! Luis passed away on month day 1983, at age 88 at death place, Florida. Record information. In a statement issued on Wednesday, the widow of Don Luis Bacardi -- who was the great-grandson of the spirits groups founder -- said Liechtestein-based Bastille Trust had denied her the right to vote at the shareholder meeting. The people who really care about Cuba, not from a commercial perspective, but from a true desire to help Cubans, whether youre pro-embargo or anti-embargo, those on both sides of the issue are already doing that. He also held a position with Bacardi & Co. -- and he opposed the privatization plan. By 1979, with worldwide sales close to 16 million (9-liter) cases, BACARD Rum is recognized as the worlds number one selling premium spirit brand. With over 30 billion records and 100 million family trees to search, Ancestry is one of the key websites to visit to help you trace your family tree back in time. Anti Slavery and Human Trafficking Statement. But, he said, as an employe he would loyally and quietly carry out the policies of his company. Those family members view the company as something that my great-great grandfather and his descendants have devoted their lives to building. Now 50, he has been chairman of the board of Bermuda-based Bacardi Limited since 2005 and a director since 1993. O'Hara assumed the position of chairman. During the interview, Adolfo Comas Bacardi pulled from his desk a newspaper article about the Bingham family of Kentucky, whose battle over the Louisville Courier-Journal was so divisive the paper and other properties eventually were sold. So when you dont have an open and free society, and people believe that the embargo is applying pressure to help force movement to an open and free society, people support an embargo. 2023 BACARD, ITS TRADE DRESS AND THE BAT DEVICE ARE TRADEMARKS OF BACARDI & COMPANY LIMITED. I try to tell them if you earn X dollars, this is what the difference is between gross and net, that if you save well and invest well, you'll be able to have a more comfortable life than if you're spending everything and living paycheck to paycheck. Cigar Aficionado Online, M. Shanken Communications, Inc. All rights reserved. He told a reporter that he has a firm policy of not doing interviews on the telephone. The Bacardi family business began in 1862, when Facundo Bacardi, an immigrant from Spain, opened a small distillery in Santiago, Cuba, and set forth to change the image of rum. Withstanding a distillery fire, five earthquakes, and countless hurricanes, El Coco symbolized strength and resilience of the Bacardi company. The society is slowly opening up a bit, and there are reforms. Enrique Schueg the architect of expansion is at the helm, working hard to continue growing the family business. Facundo L. Bacardi with Nun Eating an Apple, 1981 by Fernando Botero "Growing up, people said [to me] 'Why don't you guys release some of the rums your family drinks?'" says Facundo. Then I was a dishwasher at a restaurant - I was 15. bacardi family tree Facundo L. Bacardi has been Chairman of the Board of Bacardi Limited since 2005 and a director since 1993. Bacardi Limited is headquartered in Hamilton, Bermuda, and has a 16-member board of directors led by the original founder's great-great grandson, Facundo L. Bacard. Hilda Maria Bacardi, the sister of Facundo Bacardi, chairman of the largest privately held, family-owned spirits company in the world, is asking $27.26 million for a 12-bedroom, 13-bath mansion in Coral Gables, Florida, the pricey Miami suburb where the University of Miami is located. "Being born into the family, and growing up hearing a number of things about Bacardi; seeing a very large family interact; and . Geni World Family Tree Facundo Luis Bacardi Facundo, Luis Bacardi was born to Luis, Facundo Bacard y Houghton. Having cleverly moved the companys trademarks and yeast strain out of Cuba however, we focus on Bacardi operations elsewhere in the world: Brazil, The Bahamas, Spain, Mexico, and Puerto Rico. The family name and the Bacardi trademark, in fact,. Toten Comas Bacardi is fighting in Spanish courts for a settlement from his former employer. But, according to Bacardi family sources, Alberto had suggested some cost controls and audit procedures for the company that were not appreciated by the parent company's management. . The months turned into years, and the years turned into decades. (Editing by Beth Pinsker and Dan Grebler), https://www.wealthmanagement.com/sites/wealthmanagement.com/files/logos/Wealth-Management-Logo-white.png. Executive Vice President and Chief Financial Officer, Chief Marketing Officer of Bacardi and President of Bacardi Global Brands Limited, President and Chief Operating Officer (COO) of DUSS and PATRN, Chief Marketing Officer PATRN tequila and GREY GOOSE vodka, Senior Vice President and General Counsel, Regional President Western Europe, Australia and New Zealand, Regional President Eastern Europe, Greater China, South Korea and Japan, Regional President Asia, Middle East and Africa and Global Travel Retail, Regional President Latin America and Caribbean. Thank you for visiting facundo bacardi family tree page. Previous Next. The 3-billion-euro sales company, which produces and sells a wide range of beverages including Martini vermouth and Bombay Sapphire gin, has called a shareholder meeting on June 18 to appoint its 14-member board. The Bacardi company will survive in Cuba so long as El Coco lives!. Save to an Ancestry Tree, a virtual cemetery, your clipboard for pasting or Print. We use analytics cookies to enhance your browsing experience and improve our website. They didn't have to. Explore our rich heritage and discover more about Bacardi. As our senior family members retired, we started elevating non-family members who had worked at Bacardi for a considerable time. NEW YORK, March 28 (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio of more than 200 brands, including Bombay Sapphire, Grey Goose and Dewars. SHANKEN: Could you tell me a little about some of the independent directors who serve on your board and their backgrounds?BACARDI: Sure. So my great-great-grandfather is a great-great-grandfather to everybody in the fifth generation. The Bacardi enterprise was a family affair, and Facundo's three sons--Emilio, Facundo (Jr.), and Jose--joined the company when they came of age and learned their father's secret formula for making what was fast becoming the Caribbean's finest rum. Search by Name. The first warning for Adolfo Comas Bacardi came in October, when, two days before a Bacardi Corp. board meeting was to finalize the proposal, he was told of the privatization plan. youre drinking in a little bit of tropical Cuba from the 1850s. Invent the parallel process creating one rum base with intense flavour, aroma and character, and another much lighter and more delicate which are then blended together. The Bacardi story began when a Cuban wine merchant realized in the 1860s that a better rum could be made from the local sugar cane molasses than the vile, dark libation favored by Spanish buccaneers. Comas Bacardi, who had worked for the company for 20 years, turned down del Valle's compromise offers of a voluntary leave of absence and said he wanted a letter saying he had been fired. Another buyout candidate, they say, could be Coca-Cola Co., a company that has a close relationship with Bacardi. To mark the auspicious occasion, your poetically-minded son, Facundo Bacard Moreau, plants a coconut tree, El Coco, outside the distillery. They were the ultimate dynamic duo, and they were determined to rebuild their lives. [4] Founded in 1862, and family-owned for seven generations, Bacardi employs 6,000 people, manufactures at 27 facilities in 16 markets on four continents, with sales in more than 150 countries. SHANKEN: The board members who arent family membersdo they turn over every two or three years, or do they stay on the board for a long time?BACARDI: They typically remain on the board a while. Luis lived in 1920, at address, New York. Imagine now youre Doa Amalia, our leading lady. I would say about half our family members were born in Cuba. Why doesnt the Bacardi family undertake a public campaign to draw public attention to this injustice and get this embargo over, so the people in Cuba can regain the freedom they had and the hope for prosperity in the future? BACARDI: One of the six is for the CEO and the other five are professionals not affiliated with the Bacardi family. Facundito was known to load the party band on the back of a truck and drive them through the streets so everyone could enjoy the music and the familys rum. Originally known for its Bacardi brand of white rum, it now has a portfolio of more than 200 brands and labels. Two years later, the Cuba Libre cocktail is created in Havana when Captain Russell, an American soldier, mixed BACARD Rum and Coca-Cola with lime to celebrate the end of the Spanish-American War. "We do not comment on the financial interests of our executives, nor do we comment on matters involving executives of other companies," said spokeswoman Chris Boesch. Bermuda-based Bacardi, the world's biggest privately owned spirits company, owns more than 200 booze brands, including Grey Goose Vodka and Patron Tequila. Facundo Bacardi was born circa 1896, at birth place, to Facundo Miguel Hilario Bacardi y Moreau and Ernestina Bacardi y Moreau. By entering this site you agree to our cookie policy, terms and conditions and privacy policy. All three of them embedded in me something that I still remember to this day: You've got to work hard. Related information about Bacardi. Family tree members. SHANKEN: Whats your vision for the next 20 years of Bacardi?BACARDI: My vision is to see Bacardi grow organically and grow through acquisitions. . All Bacardi facilities and assets in Cuba are illegally confiscated without compensation by revolutionary government forces on the 14th of October, 1960. He spoke with. Street Address. Eventually, they realized they werent going back any time soon. On February 4, the company and BACARD rum celebrate their 150th anniversary - an extraordinary milestone few companies reach. You, Doa Amalia, soon discover them, and rather than getting rid of them, you invite them to stay. We establish a new home in Bermuda which creates a strategic bridge between our established market in the US and our new market in Europe. Most of the interview was for publication in Impact, a wine and spirits newsletter, and focused heavily on the companys $5 billion business. There are no rights. The bat has remained on nearly every label of every product carrying the Bacard family name since your brilliant idea in 1862. memorial page for Adolfo Facundo Danguillecourt y Bacardi (9 Jul 1927-14 Feb 1993), Find a Grave Memorial ID 179292066, citing Woodlawn Park . Initially, the board of directors wanted to go private by buying back stock held by the public. SHANKEN: How old are you?BACARDI: 47.SHANKEN: Your great-great-grandfather was the founder. 154069People3Records3Sources Toten Francisco COMAS-Bacardi y Bartesfound in 3 treesView all Toten Francisco COMAS-Bacardi y Bartesfrom tree Cuban Family Tree So important is the struggle to the normally reticent Bacardis, who live mostly in sun-drenched, palmy locales in the Caribbean, that the dissidents agreed to go public with their story. The best and brightest of the family often went to work in quality control, ensuring that a uniform product was sold no matter which of Bacardi's 13 distilleries produced it. So, when you think about it, when you drink BACARD Rum in the 21st century, no matter where in the world you are, youre drinking in a little bit of tropical Cuba from the 1850s. Comas Bacardi said as a family stockholder he thought going private was a bad idea and should be thoroughly examined by the family before the idea moved forward. Comas Bacardi opposed the proposal, and told O'Hara and del Valle his feelings. For the Bacardi family, the fruit bats living in the . More BACARD Legacy Cocktails are relished here in Havanas heaven, like the Mismo, Mary Pickford, Presidente No.1, Presidente No.2, the Cuban Pia Colada, BACARD Cocktail and the Daisy de Santiago. They became Americans, yet they never lost their connection with their home country. "We have been extremely successful. Affectionately known as El Coco, the palm became a symbol to the Bacard family and company. Its at this time that the prophecy of El Coco comes true. Bacardi declined to comment. View Site We are committed to being Good Spirited and always doing the right thing. O'Brien then asked whether the corporation planned to merge with another company if the privatization deal went through. Miami / . Biography [ edit] Bacard was born in Sitges ( province of Barcelona, Spain ), son of a bricklayer. When Fidel Castro nationalized the Cuban operation in 1960, the Bahamas firm, Bacardi & Co. Ltd., took over as controller of the Bacardi license extended to the other companies. Facundo Bacard Moreau (son of Don Facundo) plants a coconut palm at the front of the new distillery. But for us as a family company, for family members and for our shareholders, its less about the commercial endeavor and more about reconnecting with our birthplace, with our homeland. But experts say taking a company private is a tactic that is often followed by changes in ownership or management. An ocean away, in Canada, 25-year company veteran Alberto Bacardi was presiding over a successful distilling and distribution operation in Toronto. The Bacardi family fled Cuba in the wake of Fidel Castros revolution in 1959, after its distilleries and assets were seized by the new government. But I can tell you that the vision of the family and the company is to come full circle. "I don't see this as a war or a battle. Yum! Bacardi talked about the hopes the family has to return to Cuba some day, and what that might mean for the company in the future. O'Hara said there were no plans for any such transaction. Havana had a very active nightlife, like the famous nightclub Tropicana. That connotes a certain uniqueness.BACARDI: No, thats not true. Visit the Worlds largest premium rum distillery. Memorials. Many members of this group, some Bacardis speculate, are likely to follow the advice of the family's most senior member, Bacardi Imports Chairman Edwin H. Nielsen. "They don't think the company will ever change.". Employees outside the first distillery, known as La Tropical, in Santiago de Cuba. It could have been solved without this. This relationship is not possible based . "Most of us have gone to different parts of the world, to the U.S. and South America and Europe," said Toten Comas Bacardi, Adolfo's brother, fired two months ago from his positions with Bacardi's operation in Spain. [5] The company sells in excess of 200 million bottles per year. Life lessons from Bacardi Limited's chairman Facundo L. Bacardi. For the Spanish, theyre thought to bring good health, fortune and family unity. (This process enabled our hero to produce a range of rums varying from the very light and delicate to richer and more flavourful rums.) Cuban society would prosper, and that would be good for the Cuban people. Or purchase a subscription for unlimited access to real news you can count on. Rum pioneer Bacard is at the forefront of a spirited new trend: luxury aged blends that take sipping to new heights. Today, with over 900 awards for technical innovation, taste and product quality, BACARD Rum is the worlds most awarded rum. Our editors have compiled this checklist of genealogical resources, combining links to commercial databases along with user-contributed information and web sites for the Bacardi surname. The dissidents had spent the intervening weeks frantically shifting shares among family members, distributing blocks of 1,000 shares to children, spouses and trusts, to ensure that even after the reverse split more than 300 shareholders would remain. Bacardi Limited (English: /bkrdi/; Catalan: [b%C9%99k%C9%99%C9%BE%CB%88%C3%B0i]; Spanish: [bakar%CB%88%C3%B0i]%29 is the largest privately held, family-owned spirits company in the world. The jet-setter can . MILAN (Reuters) - Monika Bacardi, a member of the family owning the maker of the eponymous rum, said her Liechtenstein-based trust was blocking her attempt to reshuffle the management team at. There was a sense of security," said Adolfo Comas Bacardi, the Bacardi Corp. vice president who was fired last December. La Aurora Celebrates 120 Years With New Line, Clay Pipe Cigar Bar, Mohegan Sun, Connecticut, California Bill Would Eventually Ban Tobacco Entirely, New Ashtrays By J.C. Newman Have Vintage Look, 2022 Big Smoke Las Vegas Seminars: Blend Ambitions With Dewars And . "It's almost impossible to tell you what this means to us. Reporting by Francesca Landini; Editing by Chizu Nomiyama. NEW YORK, March 28 (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio . Founded in Cuba in 1862 and family-owned for seven generations, Bacardi Limited employs more than 8,000 people with sales in approximately 170 . "You may say you raised it with me and gave me the opportunity to respond, but we are a public company and I am not responding to information that could not be available to everyone else," O'Hara said.
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