Recent Food & Beverage Acquisitions in Kentucky
Acquisition Volume in Food & Beverage in Kentucky by Year
Last 5 years
This page summarizes recent acquisitions and financings in Kentucky's Food & Beverage sector from 2021–2025. Transactions span spirits and bourbon producers, branded beverage and snack companies, ingredient and natural-colour businesses, and regional foodservice operators.
Buyers include strategic beverage and ingredient firms as well as private equity and credit providers. Notable names active in the state are Molson Coors Beverage Company (Coors Spirits Co.), Cargill, Givaudan, Celsius Holdings, Inc., Bourdon Spirits Company, Louisville Brands, and InvestBev. Deal activity shows both branded roll-ups and targeted investments to expand production, distribution and visitor experience.
What Stands Out
- Spirits and bourbon producers feature prominently: acquisitions keep production local while expanding distillation capacity and branded portfolios (examples include Bourdon Spirits Company acquiring Copper & Kings, Molson Coors acquiring Blue Run Spirits, and Bardstown Bourbon Company transactions).
- Branded beverage and snack consolidation for scale and distribution: Celsius Holdings, Inc. acquired Alani Nutrition LLC (Alani Nu); Louisville Brands acquired Louisville Vegan Jerky Company to accelerate national scaling.
- Private credit and sponsor investments support growth and capacity expansion: InvestBev / InvestBev Credit provided eight-figure financing to Registered Distillery One; Pritzker Private Capital invested in Bardstown Bourbon Company.
- Ingredient, processing and foodservice deals expand supply-chain and regional footprints: Givaudan acquired DDW, The Color House (natural colours), Cargill acquired Owensboro Grain Company (soybean processing), and Five Star Breaktime Solutions expanded in Kentucky via Top of the Line Food Service.
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September 17, 2025
- Buyer
- Louisville Brands
- Target
- Louisville Vegan Jerky Company
- Seller
- Louisville Vegan Jerky Company, Render Capital Fund 1
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Addon
Louisville Brands has acquired Louisville Vegan Jerky Company, a plant-based snack brand and Render Capital Fund 1 portfolio company. The acquisition brings the top-selling vegan jerky brand into Louisville Brands' consumer CPG platform to accelerate national scaling and leverage regional logistics and distribution strengths.
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- Buyer
- Bourdon Spirits Company
- Target
- Copper & Kings American Brandy Company
- Seller
- Constellation Brands
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Bourdon Spirits Company, a family-owned spirits company based in Louisville, has acquired Copper & Kings American Brandy Company from Constellation Brands. The acquisition preserves production at Copper & Kings' Louisville distillery and positions Bourdon to expand the brand's visitor experience and national distribution while maintaining its creative identity.
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- Buyer
- InvestBev, InvestBev Credit
- Target
- Registered Distillery One (RD1)
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Growth capital
InvestBev, via its private credit arm InvestBev Credit, closed an eight-figure financing agreement with Registered Distillery One (RD1), a Kentucky-based bourbon distillery. The financing will support RD1's ongoing expansion and growth initiatives, with InvestBev Credit highlighting its recent deployment of nearly $30 million in 2025 to beverage operators and barrel owners.
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February 20, 2025
- Buyer
- Celsius Holdings, Inc.
- Target
- Alani Nutrition LLC (Alani Nu)
- Seller
- Katy Schneider, Haydn Schneider, Max Clemons, Trey Steiger, Congo Brands
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Celsius Holdings, Inc. completed the acquisition of Alani Nutrition LLC (Alani Nu) for $1.8 billion (including $150 million of tax assets) — a net purchase price of $1.65 billion comprised of cash and newly issued Celsius stock. The deal combines two scaled better‑for‑you energy/functional beverage brands to expand Celsius’ product portfolio, female-focused consumer reach and distribution footprint; Alani Nu will operate within Celsius and key founders/owners will remain as advisors.
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September 5, 2024
- Buyer
- Five Star Breaktime Solutions
- Target
- Top of the Line Food Service (TOTL Food Service)
- Seller
- Tom Williams and family
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Five Star Breaktime Solutions has acquired Top of the Line (TOTL) Food Service, a Louisville-based multi-route vending, micro-market and office coffee services provider founded by Tom Williams. The deal expands Five Star's footprint in Kentucky and transfers several TOTL employees to Five Star as the founder retires.
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August 8, 2023
- Buyer
- Molson Coors Beverage Company (Coors Spirits Co.)
- Target
- Blue Run Spirits
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Molson Coors Beverage Company has agreed to acquire Blue Run Spirits, a Georgetown, Kentucky-based producer of premium bourbon and rye whiskies, and will house the brand within its newly established Coors Spirits Co. The founders of Blue Run will remain with the brand, with co-founder Mike Montgomery taking an expanded role leading Coors Spirits Co., as Molson Coors accelerates its premiumization and expansion into the spirits category.
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January 20, 2023
- Buyer
- Cargill
- Target
- Owensboro Grain Company
- Seller
- Owensboro Grain Company (fifth‑generation family owners)
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Cargill has acquired Owensboro Grain Company, a fifth-generation family-owned soybean processing facility and refinery in Owensboro, Kentucky. The acquisition expands Cargill's North American oilseeds capacity and modernizes its supply chain capabilities to support demand from food, feed and renewable fuel markets; terms were not disclosed and the transaction completed in January 2023.
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- Buyer
- Bardstown Bourbon Company
- Target
- Green River Spirits Company
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Bardstown Bourbon Company has entered into an agreement to acquire Green River Spirits Company, combining two Kentucky bourbon producers. The acquisition adds the historic Green River Distilling Co. in Owensboro and a production facility in Charleston, South Carolina, expanding Bardstown's custom distillation capacity and branded bourbon portfolio.
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June 21, 2022
- Buyer
- J&J Snack Foods Corp.
- Target
- Dippin' Dots, L.L.C., Doc Popcorn business
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
J&J Snack Foods Corp. entered into a definitive agreement to acquire Dippin' Dots, L.L.C., a producer of flash-frozen beaded ice cream treats, for $222 million (subject to customary adjustments). The deal was funded with cash and senior debt financing and was expected to close by the end of June 2022; J&J later announced the acquisition closed on June 21, 2022, including the Doc Popcorn business operated by Dippin' Dots.
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- Buyer
- Pritzker Private Capital, Bardstown Bourbon management team, Current investors
- Target
- Bardstown Bourbon Company
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Pritzker Private Capital (PPC) has acquired Bardstown Bourbon Company, a Kentucky-based distiller, producer and bottler of premium bourbon and rye whiskey, with PPC investing alongside Bardstown Bourbon's management team and current investors. The deal will support Bardstown's growth by increasing production capacity, expanding its branded product presence and enhancing its experiential Bourbon Trail destination; financial terms were not disclosed.
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October 11, 2021
- Buyer
- Givaudan
- Target
- DDW, The Color House (DDW)
- Industry
- Food & Beverage
- Location
- Kentucky, United States
- Type
- Buyout
Givaudan announced that it has reached an agreement to acquire DDW, The Color House, a Louisville, Kentucky-based natural colour company serving the food and beverage industry. The deal is expected to close in Q4 2021, with terms not disclosed and Givaudan planning to debt fund the transaction.
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Frequently Asked Questions
What buyer types are most active in Kentucky Food & Beverage deals?
Strategic beverage and spirits firms, ingredient and flavour companies, regional foodservice operators, private equity sponsors and private-credit providers. Examples on the page include Molson Coors Beverage Company (Coors Spirits Co.), Cargill, Givaudan, Pritzker Private Capital, Louisville Brands and InvestBev.
Are bourbon and distillery transactions common in these deals?
Yes. Several transactions involve bourbon and distillery assets or financing—for example, Bourdon Spirits Company acquiring Copper & Kings, Molson Coors acquiring Blue Run Spirits, and financing to Registered Distillery One to support expansion.
What deal objectives do buyers typically pursue?
Buyers pursue a mix of objectives: expanding production and contract-distillation capacity, scaling branded products and distribution, preserving local production and visitor experiences, and strengthening supply-chain or ingredient capabilities. Examples include national scaling by Louisville Brands and preservation of production and visitor experience by Bourdon Spirits Company at Copper & Kings.
How are these transactions typically financed?
Deal structures vary: cash and stock combinations (e.g., Celsius Holdings, Inc. for Alani Nu), cash plus senior debt (e.g., J&J Snack Foods for Dippin' Dots), and private-credit financings (e.g., InvestBev Credit's eight-figure facility to Registered Distillery One).