Tag

American Whiskey

All articles tagged with #american whiskey

business2 years ago•6 min saved

MGP Ingredients Acquires Penelope Bourbon in Bold Move

MGP Ingredients' subsidiary, Luxco, has agreed to acquire Penelope Bourbon and its related assets for $105 million in cash, with potential earn-out contingent consideration of up to $110.8 million if certain performance conditions are met. The acquisition is expected to enhance MGP's presence in the growing American Whiskey category and expand its portfolio of premium-plus price point brands. The transaction is anticipated to close in June 2023 and is expected to be immediately accretive to Branded Spirits segment gross margin and consolidated adjusted basic earnings per share after close.

via GlobeNewswire|

#acquisition #american-whiskey #business

business2 years ago•1 min saved

MGP Ingredients Acquires Penelope Bourbon

MGP Ingredients and its subsidiary Luxco have acquired Penelope Bourbon, a family-owned American Whiskey company with a portfolio of premium-plus whiskeys. The acquisition includes all intellectual property and inventory of bottled product, as well as Penelope’s aging whiskey inventory on a debt-and-cash-free basis. The upfront purchase price is $105 million, with a maximum cash payout of $110.8 million if certain performance conditions are met. The acquisition aligns with MGP's premiumization strategy and focus on growing high-potential, high-margin brands.

via Beverage Dynamics|

#acquisition #american-whiskey #business

business2 years ago•2 min saved

"St. Patrick's Day: A Guide to Irish Drinks and Eats in Virginia and Beyond"

American-made whiskey is experiencing significant sales growth, with premium whiskeys from both small and large US distilleries driving the trend. Small distilleries that offer unique experiences are also becoming popular attractions. The rise of international sales, particularly in the European Union, has helped boost American-made whiskey's popularity. Despite this, Irish whiskey remains popular and generated over $1.4 billion in sales last year.

via CNN|

#american-whiskey #business #international-exports