Bacardi Limited (English: /bəˈkɑːrdi/; Catalan: [bəkəɾˈði]; Spanish: [bakarˈði]) is the largest privately held, family-owned spirits company in the world. Originally known for its eponymous Bacardi white rum, it now has a portfolio of more than 200 brands and labels. Founded in 1862, and family-owned for seven generations, Bacardi employs 6,000 people, manufactures at 29 facilities in 16 markets on four continents, with sales in more than 150 countries. Bacardi Limited refers to the Bacardi group of companies, including Bacardi International Limited. The company sells in excess of 200 million bottles per year. The company's sales in 2007 were US$5.5 billion, up from $4.9 billion in 2006. In recent years sales have stagnated, with the company recording US$4.6 billion in 2014. It laid off 10% of its North American workforce in 2015. 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. Bacardí. Along with other leading alcohol producers, Bacardi is part of a producers' commitments organization which aims to reduce harmful drinking.