If I purchase a distillery, does the license stay valid?

[Austontatious]

If I were to purchase an existing distillery, would the license remain valid or would I have to start a brand new application? I'm sure there would have to be some transfer paperwork at a minimum, but would I have to shut down for 6 months while I wait on the paperwork?

[coop]

The license would remain with the distillery as long as you qualify for a DSP. The transfer involves the same paper work but would stay in operation in the original license control until the TTB accepts your application. You would want to close the deal upon acceptance by the TTB and settle up then. If they continue to make products final selling price would be determined at closing. Coop