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MGP Just Bought a Kentucky Bourbon Distillery But It’s Not What You Think
MGP, best known for its Lawrenceburg, Indiana distillery, has agreed to acquire whiskey and spirits company Luxco for a whopping $475 million.
For years,
WhistlePig. The familiar words “Distilled in Indiana” on a bottle’s back label denote MGP as the source, even if it’s not officially publicized by the particular brand. And while MGP has made forays into offering its own-brand whiskeys under the
Eight & Sand American whiskey labels, progress has been slow. They’re only available in some states and despite reflecting the high quality turned out by the distillery (Remus Repeal Reserve
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MGP to buy Luxco for $475m 26th January, 2021 by Nicola Carruthers
Third-party spirits producer MGP Ingredients has agreed to acquire American whiskey maker Luxco in a deal valued at US$475 million.
Luxco owns a number of Bourbon brands, including Rebel Yell
The agreement to purchase Missouri-headquartered Luxco is in line with MGP’s strategy of moving into ‘higher valued-added products’.
MGP said Luxco offers an ‘established platform of extensive operational capabilities and a comprehensive national sales footprint with an attractive portfolio of brands’.
“Luxco presents a unique opportunity to take a material step towards realising our long-term strategy,” said David Colo, president and CEO of MGP Ingredients. “It significantly expands our product line in the higher-value branded-spirits sector and increases our sales and distribution capabilities across all 50 states.
Distilled spirits and specialty wheat proteins and starches supplier MGP Ingredients Inc. has entered into a definitive agreement to purchase branded beverage alcohol firm Luxco Inc., the company announced in a release Monday. The deal will allow MGP to grow its market position in the branded spirits space.
“Luxco presents a unique opportunity to take a material step towards realizing our long-term strategy. It significantly expands our product line in the higher-value branded-spirits sector and increases our sales and distribution capabilities across all 50 states,” MGP’s president and CEO, David Colo, said in a statement. “We have enormous respect for the platform Luxco has built, and we’re excited to add its portfolio of fast-growing premium distilled spirits brands with strong, cash-flow generating legacy brands.”