Equity group buys majority stake in Griffo Distillery
Private investment group MGD Acquisition has purchased a majority share of California-based Griffo Distillery to help it expand in the US.
Based in the Californian city of Petaluma, the distillery produces gin, vodka, whiskey and liqueurs.
It was founded by couple Jenny and Mike Griffo in 2015, who will retain a minority stake in the distillery following the deal.
Michael Griffo, who is behind the creation of the distillery’s spirits, will continue to focus on the liquid and create new expressions. His wife, Jenny Griffo, will work on direct custom distilling partnerships with Griffo.
“We are excited to begin a new chapter at Griffo Distillery in conjunction with our partners that have a proven track record for growing successful and responsible businesses,” said founder Michael Griffo.
Through the acquisition, MGD plans to amplify the distillery’s production and distribution capabilities.
The distillery’s new CEO, Will Maroun, said he was “thrilled” to join forces with Griffo.
“Our shared commitment to quality and involvement in the community align perfectly,” he continued. “This collaboration will empower Griffo Distillery to flourish while staying true to its heritage and the successful business that Michael and Jenny Griffo have built.”
Financial terms of the agreement were not disclosed.
In other acquisition news, equity firm Pritzker Private Capital acquired Bardstown Bourbon Company for an undisclosed sum last year.
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