Business
MGP Ingredients Announces $12 Million Barrel Warehouse Expansion to Meet Robust American Whiskey Demand
Barrel storage facility follows recent $4 million expansion at company's Lux Row Distillers ATCHISON, Kan., Feb. 17, 2022 /PRNewswire/ -- MGP Ingredients,
About this update from Mgp Ingredients, Inc.
[{"type":"text","content":"Barrel storage facility follows recent $4 million expansion at company's Lux Row Distillers\n\n\nATCHISON, Kan., Feb. 17, 2022 /PRNewswire/ -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of distilled and branded spirits and food ingredient solutions, announced it has begun a $12 million barrel warehouse expansion to meet growing consumer demand for its American whiskey. \n\n \n \n \n \n \n \n\n \nConstruction of the new barrel warehouse facility has recently begun in Williamstown, Kentucky, and marks the company's second major investment in its distilled spirits operations in recent months. The warehouse expansion is located approximately 50 miles south of the company's historic Ross & Squibb Distillery in Lawrenceburg, Indiana. The project is slated for completion by the end of 2022.\nIn late 2021, Luxco, operator of MGP's branded-spirits portfolio, announced a $4 million expansion of its Lux Row Distillers facility in Bardstown, Kentucky. Slated for completion in late 2022, the expansion will allow Lux Row Distillers to operate 24 hours per day and increase its capacity by 75%.\n\"With the increased demand we have been experiencing for our new distillate, aged whiskey and ultra-premium brands, these investments are necessary,\" said Dave Colo, president and CEO, MGP Ingredients, Inc. \"When complete, the new barrel warehouse and Lux Row Distillery expansions position us well for continued, sustainable growth. It is an exciting time for our company and the spirits industry.\"\nAbout MGP MGP Ingredients, Inc. (Nasdaq: MGPI) is a leading producer of premium distilled spirits, branded spirits, and food ingredient solutions. Since 1941, we have combined our expertise and energy aimed at formulating excellence, bringing product ideas to life collaboratively with our customers. \nAs one of the largest distillers in the U.S., MGP's offerings include bourbon and rye whiskeys, gins, and vodkas, which are created at the intersection of science and imagination, for customers of all sizes, from crafts to multinational brands. With U.S. distilleries in Kentucky, Indiana, Kansas, and Washington D.C., and bottling operations in Missouri, Ohio, and Northern Ireland, MGP has the infrastructure and expertise to create on any scale.\nMGP's branded spirits portfolio covers a wide spectrum of brands in every segment, including iconic b...