MGP Acquires D.C.-Based New Columbia DistillersMarch 3, 2020
MGP Ingredients continues to build its brand portfolio, acquiring Washington, D.C.-based New Columbia Distillers for an undisclosed sum. Located in the Northeast section of the city, New Columbia produces the Green Hat Gin brand and operates a distillery with retail tasting room, bar, and gin garden.
MGP says it will expand distribution of Green Hat, adding the brand to its portfolio, which also includes Till American Wheat Vodka, George Remus Straight Bourbon, Remus Repeal Reserve, Rossville Union Straight Rye, and Eight & Sand Blended Bourbon. Those brands are currently present in 17 U.S. markets. Moving forward, New Columbia co-founder John Uselton will join MGP as regional sales director.
MGP, known as a major supplier to the American whiskey boom, has looked to bolster its branded business lately. The company saw consolidated sales decline 3.5% to $363 million in its 2019 fiscal year ended in December, with operating income sliding 5.8% to $47 million. MGP blamed slowing demand in its distillery products segment—including new distillate and aged whiskies—as the main factor in the yearly decline.—Daniel MarstellerSubscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.