Swizz Beatz Recalls Eve Passing On A Patrón Ownership Offer

Swizz Beatz says Eve had a chance to own a piece of Patrón but wanted a check instead, recalling a business offer that he wishes they could revisit.

The producer told Tony Yayo and Uncle Murda about the missed opportunity on The Real Report.

He estimated that Eve could have owned 10% to 15% of the tequila company, though he did not give a date or identify who made the offer.

Swizz recalled being in Las Vegas when Eve introduced him to the drink. In his account, she knew the brand had room to grow and told him about a proposed stake.

“They want to offer me some shares in the company, but man, they got to cut me the check,” Swizz recalled her saying.

He gave no details on the terms of those shares or whether Eve received a cash offer.

The account is his recollection of their conversation. Eve’s public ties to the brand are part of a broader Hip-Hop history.

In 2009, she and Lil Jon appeared on the Paradiso Girls’ “Patrón Tequila,” one of the songs that put the liquor’s name in front of music fans.

A 2016 Digiday report on Patrón’s growth described how rap records, clubs and bottle service helped build its audience. The brand’s sales rose from 70,000 cases in 2000 to nearly 2 million in 2010.

Its then-chief marketing officer, Lee Applbaum, credited pop culture with shaping the company’s first two decades.

That history helps explain why a stake in the brand mattered.

By 2016, Patrón was trying to reach beyond its party image, putting more of its marketing behind the way it made tequila. Its push included a higher-end product line and campaigns built around its production process.

Bacardi had already bought a 30% stake in Patrón in 2008.

A decade later, it announced an agreement to take full ownership. The deal put Patrón’s enterprise value at $5.1 billion.

The purchase gave Bacardi a larger share of a growing tequila market. Bacardi said the deal made it the largest player in the U.S. super-premium spirits market.

Bacardi completed the acquisition on April 30, 2018, becoming Patrón’s sole owner.