CC Industries Announces Acquisition of CIE
CHICAGO--(BUSINESS WIRE)--Dec 20, 2021--
CC Industries, Inc. (“CCI”) announced today it acquired CIE (the “Company”) from a widely held shareholder group. Founded in 2004, CIE is one of the largest producers of grain-based, high-quality, specialty alcohols in the United States.
This acquisition expands CCI’s portfolio of industry-leading businesses and marks a new sector vertical for CCI. “CIE is a remarkable business with a proven ability to service customers and adapt to market demands,” said Bill Crown, President and Chief Executive Officer of CCI. “We are delighted to add CIE to the CC Industries family of operating companies.”
Headquartered in Marion, Indiana, CIE operates a world-class, commercial-scale distillery, which serves customers from Fortune 500 spirit, food, and fragrance brands to niche artisan craft distilleries. The company will operate as a stand-alone entity and Ryan Drook, President and Chief Executive Officer, along with the entire management team, will continue in their current roles.
“The management team and employees have grown an exceptional business and fostered a culture of safety and outstanding customer service,” Mr. Crown said. “We are excited about CIE and dedicated to providing the resources to grow the business and enhance CIE’s ability to serve its customers.”
Steve Berry, Chairman of CIE, stated, “On behalf of the Board of Directors, we want to thank our dedicated team for building CIE into the company that it is today. We are excited about CCI’s shared values and commitment to CIE’s employees, local communities, and farmer partners. With CCI’s support, I am confident that CIE is poised to accelerate the next chapter of its growth story.”
Mr. Drook stated, “We are excited to partner with our new family ownership group. CCI is an ideal partner to support us for the next phase of CIE’s growth. With CCI’s operational and financial expertise, we will continue to focus on providing our customers with superior service and the highest quality alcohols in the industries we serve.”
CIE is a global leader in grain-based, high-quality, specialty alcohols. CIE serves customers from Fortune 500 spirit, food, and fragrance brands to niche artisan craft distilleries. Headquartered in Marion, IN, CIE has global reach through its extensive network of owned, leased, and shared distribution terminals. CIE has 88 employees and was founded in 2004 by the Berry Family.
About CC Industries, Inc.
CC Industries is the Chicago-based holding company for the Crown family’s privately-held companies, including: GILLIG, Great Dane Trailers, J.L. Clark, Miracapo Pizza Company, Provisur Technologies, Riverside Rail, Selig, Southern Devall Group, and Trail King Industries. The Crown family has a long history of owning and growing industrial businesses. The family enterprise dates itself to 1919 when Henry Crown and his brothers started Material Service Corporation.
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CONTACT: Jason Green
KEYWORD: INDIANA ILLINOIS UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: FINANCE WINE & SPIRITS RETAIL PROFESSIONAL SERVICES SMALL BUSINESS
SOURCE: CC Industries, Inc.
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PUB: 12/20/2021 06:30 PM/DISC: 12/20/2021 06:30 PM