Sempreon, Inc. (CASK) news reflects the company's transition from MGP Ingredients to a new corporate identity on Nasdaq, plus updates from its Branded Spirits, Distilling Solutions and Ingredient Solutions businesses.
Company news can include quarterly results, dividends, business updates, name and ticker changes, credit agreement disclosures, annual meeting results and leadership appointments, all of which have appeared in company releases or SEC current reports under the MGP/Sempreon identity.
Product and brand coverage is also a major theme. Releases have covered bourbon, tequila and whiskey brands such as Penelope Bourbon, Yellowstone Bourbon, Rebel Bourbon, Remus Bourbon, El Mayor Tequila, Exotico Tequila and MGP-branded whiskey, along with distilling and ingredient solutions updates.
MGP Ingredients (MGPI) reported Q4 and full year 2024 results, with Q4 consolidated sales decreasing 16% to $180.8 million. The company faced challenges from elevated industry-wide barrel whiskey inventories affecting brown goods sales and pricing. Q4 net income showed a loss of $42.0 million due to a one-time, non-cash goodwill adjustment of $73.8 million in the Branded Spirits segment.
For full year 2024, consolidated sales decreased 16% to $703.6 million, while gross profit declined 6% to $286.3 million. The company's premium plus portfolio, led by Penelope, outpaced category growth despite headwinds. Operating cash flows increased by $18.5 million to $102.3 million, and the company repurchased 886,936 shares for $46.6 million.
For 2025, MGP projects sales between $520-540 million, adjusted EBITDA of $105-115 million, and adjusted basic EPS of $2.45-2.75.
MGP Ingredients (MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, has announced a quarterly dividend declaration. The company's board of directors has approved a dividend payment of $0.12 per share of common stock.
Shareholders who are recorded as stockholders by March 14, 2025, will receive the dividend payment on March 28, 2025.
Yellowstone Bourbon has reached a significant milestone in its partnership with the National Parks Conservation Association (NPCA), announcing total donations of $1 million since 2018. The company has renewed its partnership with NPCA, committing to an annual donation exceeding $250,000.
To commemorate this achievement, both organizations are launching a new video series showcasing park protection impacts. The first video, releasing February 20, 2025, will highlight the protection of over 600,000 acres of public lands in the California desert.
The partnership, spanning seven years, has supported various conservation initiatives, including flood relief efforts at Yellowstone National Park in 2022. Named after America's first national park, Yellowstone Bourbon maintains its 150-year legacy through continued support of national park preservation efforts.
MGP Ingredients (Nasdaq:MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, has scheduled its fourth quarter and full year 2024 financial results conference call for Wednesday, February 26, 2025, at 10 a.m. ET. The company plans to release its financial results before market open on the same day.
The conference call will feature Brandon Gall, who serves as both Interim President and CEO, and CFO. Investors can participate through a webcast available on the company's Investor Relations website or by dialing 844-308-6398 (domestic) or 412-717-9605 (international). A replay will be accessible on the company's website after the call.
MGP Ingredients (MGPI) has promoted Michael Buttshaw to President, Ingredient Solutions, effective January 31, 2025. Buttshaw, who previously served as Vice President of Sales, Ingredient Solutions for over 10 years, will lead the development of the Ingredient Solutions business unit, overseeing research and development, manufacturing, quality, supply chain, and sales and marketing teams.
The Ingredient Solutions division specializes in producing specialty wheat proteins and starches for the commercial baking industry, including the Arise®, Fibersym®, and ProTerra® food ingredient lines. Buttshaw brings extensive industry experience, having held leadership roles at Southeastern Mills, Penford Food Ingredients, DSM Food Specialties, and Hormel Foods.
Lux Row Distillers is launching a nationwide release of its Small Batch PX Sherry Cask Finish Kentucky Straight Bourbon Whiskey in February 2025. The new product features 4-year-old ryed straight Kentucky bourbon finished for six months in PX Sherry casks, bottled at 112 proof (56% ABV), with a suggested retail price of $49.99 per 750mL bottle.
The whiskey combines PX Sherry's sweet characteristics with spicy bourbon notes, featuring aromas of dried figs and dates, with flavors of grape syrup, candied fruit, spice, roasted coffee, and dark chocolate. The product initially debuted at the distillery in October 2024, where it gained popularity among visitors. This release joins Lux Row's portfolio, which includes award-winning products like the 12-year Double Barrel and Four Grain Double Single Barrel.
Rebel Bourbon has renewed its sponsorship with Richard Childress Racing (RCR) and driver Kyle Busch for the 2025 NASCAR Cup Series season. Following a successful 2024 partnership, Rebel Bourbon continues as the Official Bourbon of RCR and the No. 8 Chevrolet, featuring a multi-race primary sponsorship.
The partnership includes a new Rebel paint scheme for Busch's No. 8 Chevrolet, inspired by American oak bourbon barrels with wood-grain design and char-like visuals. The first race featuring the new design will be at the EchoPark Automotive Grand Prix on March 2, 2025, in Austin, Texas.
The expanded program for 2025 will include enhanced fan engagement at tracks, race markets, retail locations, and through social media content. The Rebel branding will be prominently featured on Busch's uniform, helmet, and other elements throughout the season.
Ragnar Relay has announced Yellowstone Bourbon as its Official Bourbon Partner for the 2025 race season. The partnership will span across all 29 Ragnar Relay events nationwide, starting with Road SoCal and Trail Atlanta on April 11. Yellowstone Bourbon will provide on-site bourbon tastings and interactive experiences at the events.
The collaboration aims to enhance the race experience by combining Ragnar's team-based relay running events with Yellowstone's premium spirits and outdoor conservation focus. Ragnar offers two race formats: Road (200 miles) and Trail (120 miles), challenging teams over two days and one night.
To launch the partnership, Yellowstone Bourbon is hosting a sweepstakes through February 12, 2025, offering one team a chance to win a fully paid entry into the 2025 Bourbon Chase relay race in Kentucky's bourbon country.
MGP Ingredients (MGPI) announced key leadership changes effective January 1, 2025. Brandon Gall, current CFO, will become Interim President and CEO, succeeding David Bratcher who will retire. Donn Lux will replace Karen Seaberg as Board Chairman, while she remains a board member. Lux will lead the search for a permanent CEO.
The company reaffirmed its 2024 sales and earnings guidance, while reducing capital expenditure expectations to $72 million from $78 million due to construction delays in the Ingredient Solutions segment's mini-fuel plant. Fourth quarter and full year 2024 results, along with 2025 guidance, will be announced in late February 2025.
Ross & Squibb Distillery announces the return of Remus Gatsby Reserve 2024 Edition, an ultra- bourbon featuring 15-year-old reserves. Bottled at 104.9 proof (52.45% ABV), this expression combines two bourbon mash bills and will retail at $229.99 per 750mL bottle. The 2024 edition offers notes of antique leather and tobacco on the nose, cherry syrup with walnut and oak on the palate, and a finish of walnut, fig, and roasted almonds. Packaged in an Art-Deco-inspired bottle, this third annual release follows its predecessors' success, with previous editions winning Double Platinum at ASCOT Awards, Double Gold at SIP Awards, and Gold at San Francisco World Spirits Competition.