Wednesday, November 9, 2011

LDI An "Exciting Acquisition," Says MGP CEO.

Here is an update on the LDI acquisition by MGP, which we first reported on October 21.

MGP CEO Tim Newkirk has this to say in their quarterly financial statement, released today. "Growing our sales into the consumer packaged goods market is our number one priority. We are on the verge of greatly increasing our presence in distilled beverages, specifically bourbon and rye whiskey, with the pending acquisition of Lawrenceburg Distillers Indiana. Our integration teams are making significant progress in planning to transition the existing production facilities and their customers as we target completion of this exciting acquisition sometime early in 2012."


Anonymous said...

I heard the Cuervo family (Beckman?) invested in this, any word on that?

Chuck Cowdery said...

Not exactly. LDI is being split. MGP bought the distillery. The Beckmanns are believed to be acquiring the bottling operation