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Campari Group to Invest $161 Million in Wild Turkey Expansion
Campari Group plans to add a second distillery at its Wild Turkey campus in Lawrenceburg, according to a news release from Kentucky Gov. Andy Beshear’s office. The company will invest $161 million and create 31 additional jobs in Anderson County.
“This investment by Campari Group adds to the historic momentum the commonwealth is currently experiencing in our signature bourbon and spirits industry,” Beshear said. “Kentucky is coming off our best year for growth in the spirits industry, with over $2.1 billion in new investments and approximately 700 new jobs for Kentuckians. I want to thank Campari for expanding its Wild Turkey campus in the commonwealth and continuing to invest in Anderson County and the Lawrenceburg community.”
Campari Group will construct a brand-new distillery at the Wild Turkey campus that will be designed to produce 5 million additional proof gallons of Wild Turkey bourbon annually. This will significantly increase the current capacity from 9 million to 14 million proof gallons. The new facility will be located adjacent to the company’s existing distillery.
The project also entails an expansion to the waste treatment dry house process to increase processing capacity, doubling the current dry house and waste treatment output. With this investment, Campari Group will also upgrade the current barrel filling operation to handle the increased volumes.
This investment adds to the over $300 million in operation and expansion commitments already financed by Campari Group since the acquisition of the Wild Turkey distillery 14 years ago and comes on the heels of another significant investment announced a few months ago with the acquisition of Wilderness Trail Distillery in Danville. The project is expected to break ground by October 2023 and be completed by the end of July 2025.
“We are delighted to announce this important investment and we appreciate the support received by the Kentucky Cabinet for Economic Development and the local authorities,” Ugo Fiorenzo, managing director of Campari America and Canada, said. “Since 2009, when Campari Group acquired the Wild Turkey Distillery, we have significantly invested in the bourbon category, which now represents Campari Group’s second major leg after the aperitif portfolio. This expansion project confirms, once again, our commitment to this category and it will allow for the continued growth of the Wild Turkey and Russell’s Reserve franchise, both in the United States and internationally.”
Campari Group is a major player in the global spirits industry, with a portfolio of over 50 premium and super premium brands, spreading across global, regional and local priorities. The group was founded in 1860 and today is the sixth-largest player worldwide in the premium spirits industry. Campari Group has a global distribution reach, trading in over 190 nations around the world with leading positions in Europe and the Americas. Campari Group is headquartered in Sesto San Giovanni, Italy, and owns 23 plants worldwide with its own distribution network in 23 countries.
Campari America LLC is a wholly owned subsidiary of Davide Campari-Milano N.V. Campari America has built a portfolio unrivaled in its quality, innovation and style, making it a top choice among distributors, retailers and consumers. Campari America manages Campari Group’s portfolio in the U.S. with leading brands like SKYY Vodka, SKYY Infusions, Grand Marnier, Campari, Aperol, Wild Turkey Kentucky Straight Bourbon, American Honey, Russell’s Reserve, as well as a variety of other whiskey, rum, gin and vodka products.
Campari’s planned project builds on recent bourbon and spirits growth across Kentucky. Since the start of the Beshear administration, the commonwealth’s spirits industry has seen roughly 80 new-location or expansion projects totaling over $3 billion in planned investments and creating more than 1,450 announced full-time jobs. Last year represented the best year on record for growth of Kentucky’s bourbon and spirits industry, with $2.1 billion in new investments expected to create 700 full-time jobs.
Campari’s investment and job creation furthers recent economic momentum in the commonwealth, as the state builds back stronger from the effects of the pandemic.
To encourage investment and job growth in the community, the Kentucky Economic Development Finance Authority (KEDFA) today preliminarily approved a 10-year incentive agreement with the company under the Kentucky Business Investment program. The performance-based agreement can provide up to $950,000 in tax incentives based on the company’s investment of $161 million and annual targets of:
Additionally, KEDFA approved Campari for up to $250,000 in tax incentives through the Kentucky Enterprise Initiative Act (KEIA). KEIA allows approved companies to recoup Kentucky sales and use tax on construction costs, building fixtures, equipment used in research and development and electronic processing.
By meeting its annual targets over the agreement term, the company can be eligible to keep a portion of the new tax revenue it generates. The company may claim eligible incentives against its income tax liability and/or wage assessments.
In addition, Campari can receive resources from Kentucky’s workforce service providers. Those include no-cost recruitment and job placement services, reduced-cost customized training and job-training incentives.
For more information on Campari, visit CampariGroup.com.
Photo by Smerdis/Wikimedia Commons.
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