The St. Louis, USA, based drinks distiller and producer
Luxco, has announced that it is to acquire Penelope Bourbon for $105 million.
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.
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| Luxco to acquire Penelope Bourbon |
Founded in 2018, Penelope Bourbon has been one of the fastest-growing whiskey brands in the US. Named after the founder’s daughter, Penelope boasts a series of straight bourbon whiskey expressions that are all uniquely blended from three different mash bills.
Penelope’s core expressions are comprised of Four Grain,
Barrel Strength, Architect and and its Toasted Series. In addition to its core expressions,
Penelope will continue to introduce new and innovative limited releases, within
its Cooper Series, Private Select and Founders Reserve ranges.
Luxco, which is a subsidiary of MGP Ingredients, currently has a whiskey portfolio that includes: Blood Oath, Ezra Brooks, George Remus, Minor Case, Old
Ezra, Rebel Bourbon and Yellowstone brands.
Commenting on the news, David Colo, President and CEO of MGP
Ingredients, said: “We are excited to welcome Penelope as part of our expanding
premium-plus brand portfolio. This acquisition aligns well with our
premiumization strategy and our focus on growing high potential, high margin
brands. Penelope is an excellent addition to our Branded Spirits portfolio as
we look to expand its availability throughout our national distribution
platform. We are enthusiastic about this acquisition and its ability to further
our participation in the growing American Whiskey category while delivering
meaningful long-term growth.”
Luxco’s acquisition of Penelope Bourbon, is due to be
complete in June 2023.
Posted by Steve Rush