MGPI - MGP Ingredients acquires Luxco for $238M in cash and 5M shares

MGP Ingredients (MGPI) has acquired Luxco, Inc. and its affiliated companies for $238M and 5M shares valued at ~$238MLuxco 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.

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MGP Ingredients acquires Luxco for $238M in cash and 5M shares