Big News in the Beverage Industry
MGP Ingredients Acquires Penelope Bourbon
There’s been a lot of chatter lately in the beverage industry about MGP Ingredients’ recent acquisition of Penelope Bourbon, and for good reason. This is a big deal for both companies, and the impact of this acquisition is yet to be seen.
Who is MGP Ingredients?
First things first, let’s talk about MGP Ingredients. This company is known for producing high-quality spirits and ingredients for the beverage industry. They’ve been in business for over 75 years and have a reputation for excellence. MGP is a publicly traded company with a market value of over $2 billion, so they’re no small fish.
Who is Penelope Bourbon?
Penelope Bourbon is a relatively new player in the bourbon game, but they’ve been making a name for themselves quickly. Their bourbon is made in small batches and has been well-received by critics and bourbon enthusiasts alike. Penelope Bourbon was founded in 2018 by Mike Paladini, a former finance executive, and his wife Kerry.
Why Did MGP Ingredients Acquire Penelope Bourbon?
The specifics of the deal have not been disclosed, but it’s clear that MGP Ingredients sees lots of potential in Penelope Bourbon. This acquisition gives MGP Ingredients an entry into the craft bourbon market, which is a growing segment of the industry. Additionally, this acquisition helps MGP Ingredients position themselves as a competitor to other major bourbon producers like Diageo and Brown-Forman.
What Will Change for Penelope Bourbon?
For fans of Penelope Bourbon, you’re probably wondering what changes are on the horizon. According to Mike Paladini, not much will change. The Penelope Bourbon team will still be making the same high-quality bourbon that they always have. However, with the resources and expertise of MGP Ingredients, there’s a good chance that the Penelope Bourbon brand will grow in popularity and distribution.
Only time will tell what the future holds for MGP Ingredients and Penelope Bourbon, but one thing is certain: this acquisition is a significant move for both companies. We’re excited to see what the future holds for these two players in the beverage industry.