MGPI - MGP Ingredients announces $12M barrel warehouse expansion to meet demand

MGP Ingredients (MGPI -1.2%) commenced a $12M barrel warehouse expansion to meet growing consumer demand for its American whiskey. The new barrel warehouse facility construction began in Williamstown, Kentucky and is the second major investment in its distilled spirits operations in recent months. The project is slated for completion by 2022 end. In late 2021, Luxco, operator of MGP's branded-spirits portfolio, announced a $4M expansion of its Lux Row Distillers facility in Bardstown, Kentucky; expansion scheduled for late 2022 completion will allow Lux Row Distillers to operate 24 hours per day and increase its capacity by 75%. "When complete, the new barrel warehouse and Lux Row Distillery expansions position us well for continued, sustainable growth," president & CEO Dave Colo commented.

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MGP Ingredients announces $12M barrel warehouse expansion to meet demand