https://en.wikipedia.org/wiki/War_of_the_Quadruple_Alliance
The
War of the Quadruple Alliance (1717–1720) was a result of the ambitions of Bourbon King
Philip V of Spain, his wife,
Elisabeth Farnese, and his chief minister
Giulio Alberoni to retake territories in Italy lost to the Habsburgs in Vienna, and perhaps even to claim the French throne. It saw the defeat of Spain by an alliance of
Britain,
France,
Austria (then a state of the
Holy Roman Empire), and the
Dutch Republic.
Savoy later joined the coalition as the fifth ally. Although fighting began as early as 1717, war was not formally declared until December 1718. It was brought to an end by the
Treaty of The Hague in 1720.
In OTL, the allied war effort, and the peace focused mainly on denying Spain conquests it had made in Italy.
The war did spread to mainland Spain and the Americas as well:
A 1,200 strong Spanish force set out from
Cuba to take the British settlement of
Nassau in the
Bahamas. After taking a large amount of plunder they were eventually
driven off by the local
militia.
What if the French and British in particular imposed harsher terms on Spain after somewhat more extensive campaigns?
Perhaps France and Britain partition Florida, with the French getting Pensacola and the panhandle as far as the Appalachicola, and Britain getting peninsular Florida east of the river?
Could the French have conquered the Spanish portion of Hispaniola and added it to their colony of Saint-Domingue?
For the British colonies, this probably means no colony of Georgia - rather the border between Carolina and British Florida will just be set somewhere by a royal commission.
Would French annexations of Spanish colonies in the Caribbean and North America make later Bourbon "Family Compacts" less plausible during the remainder of the 18th century?