L'burg Distillery Sale Completed

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(Lawrenceburg, Ind.) - The sale of the Lawrenceburg Distillery has been completed in a multi-million dollar deal.

Kansas-based MGP Ingredients, Inc. announced in October they planned to acquire the 164-year-old distillery from Lawrenceburg Distillers Indiana. The sale closed Wednesday for $11 million cash, equal to the current assets minus current liabilities of the distillery assets.

The 50-acre plant will be owned by MGPI’s wholly-owned subsidiary, MGPI of Indiana, LLC. It is the fifth owner in the distillery’s long history.

"The acquisition of the LDI distillery is highly exciting and represents a truly momentous event in our company's long history," said Tim Newkirk, MGPI president and CEO.

"It not only broadens our role and presence in the beverage alcohol marketplace, but, more importantly, it demonstrates our responsiveness to the numerous requests we have received from customers to supply them with high quality bourbons and corn and rye whiskeys, in addition to our premium vodkas and gins. Therefore, we view this acquisition as a tremendous opportunity to bolster our ability to meet customers' needs through more diversified and complete product offerings, as well as increased production capacity."

The acquisition to team the Lawrenceburg facility with MGPI’s operations in Atchison, Kansas makes the company one of the leading producers of beverage alcohol white grains in the United States, a release stated.

The sale includes everything except the plant’s bottling and packaging operations, which have been sold to an unnamed third party not affiliated with MGPI.

Newkirk complimented the company's acquisition team and LDI representatives for their "diligence and highly cooperative approach in making this acquisition become a reality." He also expressed gratitude to Lawrenceburg and Greendale community leaders and other residents of the area for their "high degree of hospitality and welcoming attitude" shown to MGPI personnel during phases leading up to and including the finalization of the purchase.

MGPI plans to be an active supporter in the two cities.

"Community involvement and support is a hallmark of MGPI's corporate culture, and we look forward to not only performing a business leadership role in Lawrenceburg and Greendale, but also assisting in the success of deserving projects, activities and concerns as a good corporate neighbor," Newkirk said.

More than 170 people are employed at the 50-acre distillery.

LINKS:

Distillery Warns Of Possible Job Losses

Employment Future At Distillery Considered

Kansas Company Buys Lawrenceburg Distillery