- MGP Ingredients (NASDAQ:MGPI) has acquired Luxco, Inc. and its affiliated companies for $238M and 5M shares valued at ~$238M
- Luxco is a leading branded beverage alcohol company across various categories, with a more than 60-year business heritage.
- This transaction will enhance company's scale and market position in the branded-spirits sector and strengthen its platform for future growth of higher value-added products.
- The acquisition will improve MGP’s gross margin and cash flow generation profile and management expects EPS to be low to middle single digit percentage accretive in the first full year.
- The transaction is expected to be completed during 1H21.