Welcome to our dedicated page for Mgp Ingredients news (Ticker: MGPI), a resource for investors and traders seeking the latest updates and insights on Mgp Ingredients stock.
MGP Ingredients, Inc. (Nasdaq: MGPI) is described in its news releases as a leading provider of branded and distilled spirits and food ingredient solutions, operating through three segments: Branded Spirits, Distilling Solutions, and Ingredient Solutions. The MGPI news feed on Stock Titan brings together company announcements, brand updates, and financial communications that reflect activity across these segments.
Investors and followers of MGPI can use this page to review earnings releases, outlook updates, and other financial communications the company issues, such as quarterly results and dividend declarations. These items provide insight into segment performance, trends in brown goods and branded spirits, and developments in the Ingredient Solutions business.
The news flow also highlights product and brand activity from MGP’s Branded Spirits division under the Luxco umbrella. Recent releases have covered new and returning expressions from brands like Rebel Bourbon, Penelope Bourbon, Remus Bourbon, and El Mayor Tequila, including flavored whiskeys, ready-to-pour cocktails, and specialty tequila offerings. These announcements give context on how MGP supports innovation and positioning within its premium spirits portfolio.
Corporate governance and leadership changes, such as board transitions and executive appointments, are also reported through MGPI news. Together, these updates help readers understand how MGP Ingredients manages its operations, develops its brands, and communicates with shareholders. Bookmark this page to quickly access MGPI-related earnings news, brand launches, and corporate announcements in one place.
MGP Ingredients (Nasdaq:MGPI) reported strong financial results for 2020, with consolidated sales up 9.0% to $395.5 million. The fourth quarter saw a 9.1% increase in sales to $100.9 million, driven by premium beverage alcohol and Ingredient Solutions segments. Gross profit for the year rose 29.1% to $98.8 million. Adjusted operating income increased 20.9% to $57.1 million, despite a decrease in EPS to $2.37. However, ongoing pandemic uncertainties prevent the company from providing 2021 guidance.
MGP Ingredients, Inc. (Nasdaq: MGPI) has declared a quarterly dividend of $0.12 per share of common stock, payable on March 26, 2021, to stockholders of record by March 12, 2021. The announcement reflects the company's ongoing commitment to returning value to its shareholders. MGP, known for its premium distilled spirits and specialty wheat proteins, continues to navigate the evolving economic landscape while managing potential risks associated with its acquisition of Luxco.
MGP has appointed Tony Kavanagh as their new Export Sales Manager based in London, enhancing their international sales strategy in the spirits market. Kavanagh has nearly 30 years of experience, having held senior roles in renowned companies like Beam Suntory and Cooley Distillery. His expertise in European markets and knowledge of consumer preferences will strengthen MGP's collaborative distilling efforts. Established in 1941, MGP is a significant supplier of distilled spirits and specialty wheat proteins, with operations in multiple locations, including Kansas and Indiana.
MGP (Nasdaq: MGPI) has announced its plans to expand the distribution of Green Hat Gin, the first licensed distillery in Washington, D.C. since Prohibition. Scheduled for rollout in the first half of 2021, the gin is available in four styles: Original Batch, Navy Strength, Citrus Floral, and Summer Cup Cordial, with prices ranging from $29.99 to $32.99 per 750-ml bottle. MGP aims to enhance its brand presence, with promising feedback from distribution partners. Green Hat Gin, acquired in March 2020, is inspired by the bootlegger George Cassiday.
MGP Ingredients, Inc. (Nasdaq:MGPI) will hold a conference call/webcast on February 25, 2021, at 10 a.m. ET to discuss its financial results for the fourth quarter and full year ended December 31, 2020. The company plans to release its financial results before the market opens that day. Key management figures, David Colo (CEO) and Brandon Gall (CFO), will participate in the call. A replay will be available on the MGP Ingredients website after the call concludes, providing insights into the company’s performance.
MGP (Nasdaq: MGPI) has announced a partnership with RNDC to enhance the distribution of its spirits brands in Colorado. This collaboration aims to boost sales and brand recognition for MGP’s portfolio, which includes TILL American Wheat Vodka, George Remus Straight Bourbon Whiskey, and Green Hat Gin. MGP's premium spirits are crafted in Atchison, Kansas, with operations also in Indiana and Washington, D.C. The partnership reflects MGP's commitment to quality and market expansion, particularly for Green Hat Gin, which will be available in additional markets throughout 2021.
MGP (Nasdaq: MGPI) has formed a partnership with Standard Beverage to enhance the growth of its proprietary spirits brands in Kansas. The collaboration aims to bolster brand recognition and business impact amidst challenging times for the local hospitality sector. MGP distills a diverse range of spirits, including TILL American Wheat Vodka and George Remus Straight Bourbon Whiskey, which will now be represented fully by Standard Beverage. The partnership signifies MGP's commitment to the Kansas market and its expansion strategy for various premium spirits, including the recently acquired Green Hat Gin.
MGP Ingredients (Nasdaq:MGPI) announced its acquisition of Luxco for an enterprise value of $475 million in cash and stock. This strategic move aligns with MGP's goal to expand into higher value-added products. The transaction, expected to close in the first half of 2021, will bolster MGP’s market position in the branded-spirits sector, enhancing gross margins and cash flow. Luxco’s brands, including Ezra Brooks® and El Mayor®, will diversify MGP’s offerings and strengthen its nationwide distribution.
Matt Greeno has been appointed as the Lead Master Distiller at MGP Ingredients (MGPI), tasked with enhancing distillation quality and driving new product development. Greeno will supervise Master Distillers and engineers, fostering collaborations with MGP's R&D team for innovative spirits. His expertise in distilling gins and whiskeys is crucial as MGP Brands expands its offerings. Greeno holds a Master Distiller certification and has been with the company since 2011, following his education in chemical engineering and business administration.
MGP (Nasdaq: MGPI) has introduced the 2021 George Remus Bourbon Single Barrel Program, featuring selections at cask strength with two unique mash bills that highlight MGP's high-rye bourbon profile. Retailers can engage virtually with the distillery team to select their preferences, with customizable labels enhancing the collectible appeal. Pre-sales are open until March 15, 2021, with shipments scheduled for September 2021 to correspond with National Bourbon Month. MGP aims to support partners with marketing strategies to target discerning bourbon enthusiasts.