MGP Ingredients Acquires Luxco for $475 Million
MGP Ingredients, well-known for its contract packaging services, has acquired Luxco Inc for $475 Million. While MGP does have a couple of its own brands, this acquisition will mark a big step in growing its branded spirits business. Luxco's portfolio includes numerous brands such as Ezra Brooks, Yellowstone, El Mayor and Everclear, and represents 4.8 million cases.
"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,” said David Colo, president and CEO of MGP Ingredients, Inc. “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 together with strong, cash-flow generating legacy brands.
