Family-Owned Spirits Firms Continue Entrenching in South Florida Markets
Bacardi opened a 100,000-square-foot North America regional office in Plaza Coral Gables on Sept. 16, consolidating about 250 employees across five floors at 3011 Ponce de Leon Boulevard. The Bermuda-headquartered spirits company relocated from another Coral Gables site, continuing an operational presence in South Florida that dates to 1963. Regional president Tony Latham works from the new location, which includes a private fitness center, multiple bars, and event spaces. The office also houses Bacardi’s archive of more than 18,000 company and family artifacts and an extensive Cuban art collection.
Bacardi has remained family-owned for seven generations since its 1862 founding in Santiago de Cuba, and now operates more than 200 brands across 160 markets with 8,000 employees globally. The company moved to Coral Gables in 2009 after decades in Miami’s Midtown, where it occupied the landmark Bacardi Buildings on Biscayne Boulevard. CEO Mahesh Madhavan leads the company, which describes itself as the world’s largest privately held, family-owned spirits operation. Kathleen Procario, VP for people of Bacardi North America, called the new office a space that honors the company’s heritage following its forced exile from Cuba.
Plaza Coral Gables, developed by an Agave Holdings affiliate and completed in 2022, spans 2.25 million square feet across 7 acres. The mixed-use project includes 455,000 square feet of offices, 165,000 square feet of retail, 170 residences, and a 242-room Loews Hotel. South Florida has emerged as a hub for spirits companies, driven by the region’s location and hospitality sector. Miami-based Southern Glazer’s Wine & Spirits, North America’s largest alcoholic beverage distributor, also maintains headquarters in the market.
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