MGP completes $475m Luxco acquisition 6th April, 2021 by Nicola Carruthers
Third-party spirits producer MGP Ingredients has completed its acquisition of American whiskey maker Luxco in a deal valued at US$475 million.
Luxco owns a number of Bourbon brands, including Rebel Yell
MGP said the move was part of the firm’s long-term strategy focused on shifting to products of higher value, and would ‘significantly’ expand the business.
Furthermore, the purchase will boost MGP’s gross margin and cash flow. Earnings per share are expected to gradually increase by low to middle single digits in the year after the deal has closed, MGP said.