Terrepure Spirits, a UK-based subsidiary of the South Carolina-based Terressentia, is planning to invest around $20m in Charles Medley distillery in Kentucky, a move that will create 50 jobs.
The investment forms a part of the company's strategy to expand its presence to Kentucky.
The company plans to renovate existing warehouses and other buildings at the site and start producing bourbon in 12 to 18 months, following completion of the acquisition.
Terrepure Spirits CEO Earl Hewlette was quoted by The Post and Courier as saying that the company would have looked at a adding a distillery in South Carolina to expand if one existed, but he added that Kentucky is the home of the American bourbon industry and a likely candidate for the company's expansion.
"We have seen incredible growth in demand, added Hewlette.
"The demand has become so great, our suppliers can't supply us fast enough."
Additionally, the Daviess County Economic Development Advisory Board has recommended a $200,000 incentive for the company.
