Alto Ingredients acquires Eagle Alcohol Company for $14M

  • Alto Ingredients (NASDAQ:ALTO) acquires Eagle Alcohol Company for $14M plus an estimated net working capital adjustment of $1.3M, funded from company’s cash on hand.
  • Eagle Alcohol Company is a leading distributor of specialty alcohols headquartered in St. Louis, Missouri.
  • The acquisition is expected be immediately accretive and grow Adjusted EBITDA by $7M-9M annually in 2023 and beyond, including expected synergies.
  • Downstream integration expected to increase margins, reduce volatility, and create access to new markets.
  • “We have been aggressively diversifying our business to focus on specialty alcohols and essential ingredients. By acquiring an established leader in premium alcohol distribution, we expand our scope of offerings, customer base, and commercial opportunities as well as significantly accelerate our penetration of new high-margin markets,” said Michael Kandris, president and CEO.
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