Rum Deal in an Old Family Firm

The Bacardis tussle over taking their liquor company private

Last week's family reunion in the Biltmore Hotel in Coral Gables, Fla., might have been a joyous one. The Bacardis could have marked the 125th anniversary of the development by their forebear Don Facundo Bacardi of a way to produce a light, clean rum. His label now accounts for half of world rum sales. But instead of a celebratory gathering of the clan, the stockholders' meeting of Bacardi Corp. on Thursday was another episode in a high-stakes corporate and family feud. A battle for control of the company has split the more than 500 Bacardi heirs and apparently led to the...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!