A method of co-producing acetic anhydride and an acetate ester includes pyrolizing acetic acid at elevated temperature to produce a first ketene stream, the first ketene stream being a vapor phase stream comprising ketene, acetic acid and water; cooling the first ketene stream to condense acetic acid and water therefrom, thereby generating (i) a weak acid aqueous stream and (ii) a ketene feed stream; feeding the ketene feed stream to an acetic anhydride reactor where the ketene is reacted with acetic acid to produce acetic anhydride; concurrently with step (c), feeding the weak acid aqueous stream to an esterification reactor wherein acetic acid in the weak acid stream is reacted with an organic alcohol to produce an acetate ester. Preferably, the organic alcohol is selected from organic alcohols which (i) form acetate esters which esters and optionally alcohols provide azeotropic mixtures with water and (ii) wherein the azeotropic mixtures have a water content greater than the amount of water generated by reaction of the alcohol with acetic acid to facilitate azeotropically separating the acetate ester from the reaction mixture.