The Latest in the World of Bourbon: MGP Acquires Penelope
A Surprising Turn of Events
In a move that has shocked the world of bourbon, American whiskey producing giant MGP has acquired Penelope – a star of the craft bourbon world. The acquisition is a significant one, not just because of the success of Penelope, but also because of the price tag that came with it.
MGP is known for producing a wide range of whiskeys for various brands, but they haven’t been very active in the premium bourbon market. However, with this acquisition, they are making a clear statement that they’re looking to change that.
Who is Penelope?
For the uninitiated, Penelope is a small craft distillery based out of New Jersey. The distillery was founded in 2018 by two friends, Mike Paladini and Danny Polise, who had a passion for bourbon and a dream of creating a unique take on the classic spirit.
Penelope’s flagship bourbon is a blend of three bourbons sourced from Tennessee, Indiana and Kentucky, which is then aged for four years in a unique four-grain blend of corn, wheat, rye, and malted barley. This unconventional approach has earned the young distillery numerous accolades and a loyal fanbase.
The Significance of the Acquisition
Bourbon aficionados are understandably curious about what this acquisition means for both MGP and Penelope.
For Penelope, it’s a chance to gain access to MGP’s substantial resources and expertise. With MGP’s backing, the distillery will be able to expand and improve its operations, as well as potentially tap into new markets that were previously out of reach.
For MGP, the acquisition is a clear indication that they’re looking to take a more active role in the premium bourbon market. By acquiring a well-regarded craft distillery like Penelope, they not only gain access to a quality product but also the brand’s loyal customer base – potentially increasing their market share in this growing industry.
What the Future Holds
It remains to be seen what the future holds for Penelope under MGP’s ownership.
The founders, Paladini and Polise, are set to remain involved with the brand, which could bode well for maintaining the distillery’s unique character. It’s possible that MGP could use their resources to help Penelope expand beyond their current footprint – perhaps even expanding their product line to include other types of whiskey.
For now, Penelope remains a small, craft distillery with big dreams and a loyal following – and it’s unclear how this acquisition will affect their future. However, one thing is clear: the world of bourbon is ever-evolving, and this latest acquisition is just one more twist in what has become a fascinating industry to watch.