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. (MGPI) combines heritage distilling with innovative food ingredient solutions, serving both premium beverage and functional food markets. This news hub provides investors and industry professionals with timely updates on corporate developments, financial performance, and operational milestones.
Access official press releases and curated news coverage spanning MGPI's distilled spirits innovations and specialty wheat protein advancements. Track updates including earnings reports, production expansions, product launches, and strategic partnerships across both business segments.
Our repository features essential announcements related to bourbon/rye whiskey production, non-GMO ingredient developments, facility upgrades, and market leadership in alcohol purification technologies. Content is organized chronologically for efficient tracking of the company's progress in both traditional and modern food sectors.
Bookmark this page for direct access to MGPI's latest regulatory filings, leadership updates, and sustainability initiatives. Check regularly for insights into how the company maintains its position at the intersection of craft beverage trends and nutritional food innovation.
MGP Ingredients has announced the appointment of David Colyott as Executive Vice President of Operations, effective July 2024. Colyott replaces Steve Glaser, who is retiring after a 13-year tenure. Colyott brings over 30 years of experience in supply chain operations and has held significant roles at Mars Petcare, Nestlé Waters, Ryder, and The Home Depot. He holds a Bachelor of Science in Marketing from Eastern Illinois University and has completed executive leadership programs at London School of Business, Nestlé, and Mars Petcare. MGP Ingredients' CEO, David Bratcher, expressed optimism about Colyott's leadership aligning with the company’s strategy of transitioning into a branded spirits company.
Lux Row Distillers announced the release of Rebel 10-Year Single Barrel Bourbon, aged for a decade and hand bottled at 100 proof. Priced at $99.99 for a 750mL bottle, this -edition bourbon features a unique flavor profile with vanilla, dark fruits, citrus, and oak, culminating in a smooth oak finish with a hint of spice. Each bottle is labeled with the barrel number and 'aged since' date. This release underscores Rebel Bourbon's commitment to quality and innovation, having recently won Double Platinum at the ASCOT Awards and Platinum - Best of Class at the SIP Awards. Additionally, Rebel Bourbon has become the official bourbon of Richard Childress Racing and offers two new barrel programs for retailers.
Ross & Squibb Distillery has unveiled enhancements to its Remus Bourbon and Rossville Rye Single Barrel programs for 2024. The historic Lawrenceburg, Indiana-based distillery offers unique kits for each brand with the option of private, guided tastings led by Master Distiller Ian Stirsman, either in-person or virtually.
The in-person experience includes a tour of the 175-year-old distillery, a private sampling, and is available by reservation only. The virtual tasting kits come in a natural wood case with three different mash bill samples, branded glassware, and detailed information about each offering.
These enhancements aim to provide a unique and personalized experience for whiskey enthusiasts.
MGP Ingredients has appointed Amit Sharma as Vice President of Investor Relations as of May 20, 2024. Sharma brings over 18 years of experience, previously serving in a similar role at Hostess Brands, where he enhanced investor engagement and drove shareholder value. In his new role, Sharma will lead MGP's investor relations strategy, aiming to improve communication with investors and stakeholders. CEO David Bratcher and CFO Brandon Gall both express confidence in Sharma’s capabilities to support the company's growth objectives. Sharma holds a Bachelor’s in Computer Science from Delhi University, an MBA from Baruch College, and is a CFA.
MGP Ingredients, Inc. (MGPI: Nasdaq) has appointed Paul Lux as Vice President of Sales for the Distilling Solutions segment, effective immediately. Lux, an industry veteran, brings extensive experience in beverage alcohol business to the role. He will work closely with Amel Pasagic, Chief Commercial Officer, to execute MGP's strategy for the segment.
MGP Ingredients reported its first-quarter results for 2024, with sales decreasing by 15% due to the closure of the Atchison distillery. Gross profit decreased by 10%, operating income by 30%, and net income by 34%. Adjusted EBITDA decreased by 17%, and EPS also declined. Despite these decreases, the company remains optimistic about its performance for the rest of the year.
MGP Ingredients, Inc. (Nasdaq: MGPI) declared a quarterly dividend of $0.12 per share of common stock, payable on May 31, 2024, to stockholders of record as of May 17, 2024. MGP is a leading provider of branded and distilled spirits, along with food ingredient solutions.
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