bicardi is buying patron in a deal worth more than $5 billion this comes as more companies scramble town more top shelf spirits. high-end tequila shares have soared from 2002 to 2016 brad cooper says the deal demonstrates the need to adjust portfolios to be on target with consumer demand as drinke erers shift from beer, rum and vodka patron is facing increasing competition from jose cuervo as well as celebrity-back the brands but diago brought george clooney's brand for $1 billion the rum giant likely saw challenges in the core portfolio and were seeking a stop gap and they found is in patron. back over to you >> patron. i did know that one. i'm annoyed with myself. lovely to have booze news in the morning. >>> the world economic forum's annual meeting is under way in davos, switzerland it brings together heads of state, policymakers, academics the theme this year is creating a shared future in a fractured world. joining us from davos is scott minnow, chairman of investments at guggenheim partners good morning to you. >> good morning to you >> scott, i thought i would start off the bac

stay with us >>> the rum giant bicardi expacts in tequila business.dowdy joins us with a look at the deal >> bicardi is buying patron in a deal that values the company at more than $5 billion one of the biggest liquor deals in years this comes as more companies scramble to own more top shelf spirits. they're credited with producing high-end tequila, and sales have soared more than 700% from 2002 to 2016. patron west cofounded by a billionaire who also cofounded the paul mitchell systems hair care company it's the first major deal under the man who was named bicardi's ceo in october by the family which has controlled the company since its founding in 1862 patron will join grey goose vodka, bombay gin, and st. jermaine in the bacardi pote folio. it will become the second largest spirits company in market share buy value in the u.s. according to iwsr data. put tequila has been hot not only for m&a, but deaugio agreeing last year to spend up to $1 billion to acquire cosamigos founded by george clooney. it's not just consumers who can't get enough of the h

past few years, the best sellers on super bowl weekend have been jack daniels, captain morgan, and bicardi. >>> our super bowl coverage just getting started, coming up, a montgomery county story that runs right through the link. nbc 10 is your official station, the only place to watch super bowl lii if you're not going to minneapolis. and we're sending a whole squad to get you insight. i will be there with nine of my colleagues taking over minnesota for you. count on our coverage for the next nine days through super bowl sunday. >>> if you're flying out to minneapolis to watch the super bowl, brace yourself for frigid cold when we get there. it is chilly tonight, but it warms up for the rest of the weekend. here sis glenn hurricane schwartz. >> it will be warm both days, but one day will have sunshine, one day will have rain. saturday is the day with the sunshine. we have clear skies that are out there right now. the high today was only 32, but that is around afternoon for this time of year, a big increase for tomorrow. clear skies now, showers back to the west, not very impressive at the