News Releases
Read the latest news from MGP.
MGP Ingredients, Inc. Reports Results for First Quarter of New Fiscal Year
Highlights
- Q1 net sales up 34% vs. year ago led by food grade alcohol
- Q1 net income per share of $0.10 vs. year ago income of $0.04 per share, driven by gain associated with sale of joint venture interest
- Distillery sales up 44% to $72.4 million for Q1 vs. prior-year period
- Q1 operating profits impacted by unfavorable change in open commodity contracts, plus one-time expenses for ... » read more
Union Local Ratifies New Labor Contract with MGPI of Indiana, LLC
LAWRENCEBURG, Ind., March 15, 2012—Local 13D of the United Food and Commercial Workers (UFCW) Union has ratified a new multi-year collective bargaining unit agreement with MGPI of Indiana, LLC located in Lawrenceburg and Greendale, Ind. The agreement took effect on March 7, and extends through Dec. 31, 2017.
» read moreMGP Ingredients, Inc. Reports Results for Second Quarter
ATCHISON, Kan., March 13, 2012 - MGP Ingredients, Inc. (Nasdaq/MGPI) today reported financial results for the second quarter and six months ended December 31, 2011. As previously announced, the company changed its fiscal year end to December 31 from June 30. As a result, the six months ended December 31, 2011, represent a transition period, with the next fiscal year covering the period from January 1, 2012, through December 31, 2012.
» read moreMGP Ingredients Board Declares Dividend
ATCHISON, Kan., March 2, 2012—The Board of Directors of MGP Ingredients, Inc. (Nasdaq/MGPI) yesterday declared a dividend of 5 cents ($0.05) per share on the company’s common stock. The dividend is payable on April 19, 2012, to stockholders of record as of March 22, 2012.
» read moreBarry Younkie Joins MGP’s Beverage Alcohol Sales Team
ATCHISON, Kan., March 1, 2012—Barry Younkie has joined MGP Ingredients, Inc. (MGP) as beverage alcohol sales manager for the company’s distillery segment. In assuming the role, his focus will be on the commercialization of MGP’s recently added premium bourbons and whiskeys. The company’s world-class beverage alcohol operation is committed to providing the highest quality products and possesses expertise in developing customized formulations tailored to customer specifications for a wide range...
» read moreBrandon Gall Appointed Director of Financial Planning and Analysis at MGP Ingredients, Inc.
ATCHISON, Kan., January 10, 2012—Brandon Gall has been named director of financial planning and analysis at MGP Ingredients, Inc. (Nasdaq/MGPI). In this position, Gall becomes responsible for strategic financial forecasting and planning for the company, as well as supplying value-added reporting on commercial and production operations to MGP executive leadership.
» read moreMGP Ingredients Names Jim Vinoski Plant Manager at Lawrenceburg, Indiana Facility
ATCHISON, Kan., January 6, 2012— MGP Ingredients, Inc. has announced the appointment of Jim Vinoski as plant manager of the company’s wholly owned subsidiary, MGPI of Indiana, LLC, located in Lawrenceburg, Ind., and the adjacent community of Greendale, Ind. Vinoski brings extensive experience in operations and supply chain executive management to his new role with MGP.
» read moreTaking Bio-based Products to the Next Level: MGP Ingredients, Inc. teams up with Kansas Alliance for Biorefining and Bioenergy, Universities
ATCHISON, Kan., January 5, 2012 – MGP Ingredients, Inc. (MGP), an expert in wheat- and corn-based ingredients, is teaming up with the Kansas Alliance for Biorefining and Bioenergy (KABB) and four Kansas universities to develop new technologies and products that use bio-based raw materials. Through this collaborative endeavor, KABB is awarding a grant of approximately $1.4 million, which is being matched through in-kind services estimated at approximately $1.5 million from MGP and the...
» read moreMGP Ingredients, Inc. Announces Formation of New Holding Company
ATCHISON, Kan., January 3, 2012 -- MGP Ingredients, Inc. (Nasdaq: MGPI) announced that it has reorganized by creating a new holding company structure. The business operations of the company and its subsidiaries will not change as a result of the reorganization.
» read moreMGP Ingredients, Inc. Finalizes Purchase of Lawrenceburg, Indiana Distillery Assets; Bolsters Ability to Serve Customers with Expanded Product Lines and Capacity
ATCHISON, Kan., December 28, 2011 – With the finalization today of a previously-announced asset acquisition, MGP Ingredients, Inc. (NASDAQ/MGPI) significantly strengthened its role in serving beverage alcohol customers in the branded packaged goods industry. Through its wholly-owned subsidiary, MGPI of Indiana, LLC, the company acquired Lawrenceburg Distillers Indiana, LLC (“LDI”) distillery assets located in Lawrenceburg, Ind., and the adjacent community of Greendale, Ind. The assets include ...
» read moreMGP Ingredients, Inc. Announces Results For First Quarter of Transition Period
Highlights •Q1 sales up 34% vs. year ago led by food grade alcohol •Q1 diluted loss of $0.31 per share vs. fiscal 2011 Q1 income of $0.28 per share driven mainly by unrealized, non-cash losses of $5.0 million from hedge valuation adjustments •Distillery sales up 42% to $60.5 million •Higher corn costs and flood-related transportation expenses impact distillery gross profits vs. year ago •Ingredients segment sees significant profit improvement vs. each of prior two quarters •Company aims...
» read moreMal Warrick Appointed Corporate Director of Supply Chain at MGP Ingredients
ATCHISON, Kan., November 3, 2011—Mal Warrick has been appointed corporate director of supply chain at MGP Ingredients, Inc. (Nasdaq/MGPI). Warrick has nearly 30 years of experience in supply chain operations, including six years with Hallmark Cards, Kansas City, Mo., and 22 years with Proctor and Gamble, principally at that company’s Kansas, Kan. location.
» read moreMGP Ingredients, Inc. to Purchase Lawrenceburg, Indiana Distillery Assets
ATCHISON, Kan., October 21, 2011 – MGP Ingredients, Inc. (NASDAQ/MGPI) today announced that its wholly-owned subsidiary, MGPI of Indiana, LLC, signed an agreement with Lawrenceburg Distillers Indiana, LLC (“LDI”) to acquire LDI’s beverage alcohol distillery assets located in Lawrenceburg, Ind., and used in the production of customized and premium grade whiskeys, gins and grain neutral spirits.
» read moreMGP Ingredients, Inc. Stockholders Re-Elect Gary Gradinger, Timothy Newkirk and Karen Seaberg to Board of Directors
ATCHISON, Kan., October 20, 2011 – Gary Gradinger, chairman and chief executive officer of Golden Star, Inc., was re-elected to the Board of Directors of MGP Ingredients, Inc. (Nasdaq/MGPI) by holders of the company's common stock. Timothy Newkirk, MGPI president and chief executive officer, and Karen Seaberg, a local civic leader and businesswoman, were re-elected to the board by holders of the company's preferred stock.
» read moreMGP Ingredients to Webcast Annual Meeting October 20, 2011
ATCHISON, Kan., October 12, 2011—MGP Ingredients, Inc. (Nasdaq/MGPI) today announced that the company will host a webcast of its Annual Meeting of Stockholders to be held Thursday, October 20, 2011 beginning at 10:00 a.m. (central time) at the Presbyterian Community Center, Atchison, Kansas.
» read moreMGP Ingredients, Inc. Announces FY 2011 Fourth Quarter Results
Highlights
- Q4 sales up 27% vs. year ago led by food grade alcohol
- Company reports fiscal 2011 Q4 diluted loss of $0.58 per share vs. fiscal 2010 Q4 income of $0.14 per share
- Corn price volatility in Q4 resulted in a mark-to-market non-cash loss of $5.5 million on corn hedges associated with forward alcohol sales contracts
- Q4 results also impacted by plant shutdowns for major... » read more
MGP Ingredients Board Declares Dividend; Approves Fiscal Year Change
ATCHISON, Kan., Aug. 31, 2011 —The Board of Directors of MGP Ingredients, Inc. (Nasdaq/MGPI) has declared a dividend of 5 cents ($0.05) per share on the company’s common stock. The dividend is payable on Oct. 13, 2011 to stockholders of record as of Sept. 15, 2011. Directors also approved a change in the company’s fiscal year-end from June 30 to Dec....
» read moreJill Baumert Joins Ingredient Solutions Sales Team at MGP Ingredients, Inc.
ATCHISON, Kan., August 24, 2011—Jill Baumert has joined MGP Ingredients, Inc. (MGPI) as territory sales representative for the company’s ingredients solutions segment. In assuming the role, her focus will be on the commercialization of MGPI’s innovative lines of specialty wheat starches and proteins.
» read moreNew Informational Booklet Details Unique Qualities and Benefits of Arise® Wheat Protein Isolates from MGP Ingredients, Inc.
ATCHISON, Kan., August 23, 2011—MGP Ingredients, Inc. (MGPI) has published a new booklet detailing the properties as well as functional and cost-saving benefits of the Company’s Arise® line of wheat protein isolates in bakery and other flour-based food formulations.
» read moreMark Kocour Named Plant Manager of MGPI's Onaga, Kansas Facility
ATCHISON, Kan., August 10, 2011— MGP Ingredients, Inc. (MGPI) has announced the recent appointment of Mark Kocour as plant manager of the company’s Onaga, Kan., facility. His principal responsibility is overseeing all day-to-day operations at the facility, where MGPI produces plant-based biopolymers for use in the manufacture of eco-friendly plastic-like products
» read moreJim Artzer Appointed Director of Supply Chain Finance at MGP Ingredients, Inc.
ATCHISON, Kan., August 8, 2011—MGP Ingredients, Inc. (Nasdaq/MGPI) has announced the appointment of Jim Artzer to the position of director of supply chain finance. Artzer comes to MGPI with over 22 years of experience in accounting and finance roles. He most recently served as senior director of general accounting for
» read moreMGP Ingredients Published Comprehensive Document Demonstrating Effectiveness of Fibersym® Resistant Starch As Superb Dietary Fiber Source
ATCHISON, Kan., August 3, 2011—MGP Ingredients, Inc. (MGPI) has published a new, more comprehensive booklet detailing recent clinical studies highlighting the physiological benefits as well as functional qualities of Fibersym® RW, the company’s unique resistant wheat starch, in bakery and other flour-based food formulations.
» read moreWright Promoted to Distillery Manager at MGP Ingredients, Inc.
ATCHISON, Kan., August 1, 2011—MGP Ingredients, Inc. (MGPI) has announced the promotion of Brian Wright to manager of distillery operations. In his new role, Wright is responsible for leading plant operations at the Atchison, Kan. distillery. One of his primary job responsibilities is to drive continuous improvement initiatives to enhance plant efficiencies. Wright is responsible for scheduling the day-to-day production of ...
» read moreGill Appointed Communications Specialist at MGP Ingredients
ATCHISON, Kan., June 6, 2011— Ashley Gill has joined MGP Ingredients, Inc. (MGPI) as communications specialist. Among her principal responsibilities will be assisting in the execution of overall publicity and promotional projects, including internal communications programs and marketing communications initiatives. “We are very pleased to welcome Ashley to our corporate relations team,” said Shanae ...
» read moreMGP Ingredients Names Stephen Glaser Plant Manager at Atchison Facility
ATCHISON, Kan., May 17, 2011—MGP Ingredients, Inc. (MGPI) has announced the appointment of Stephen Glaser to the position of plant manager at the company’s Atchison, Kan., facility. Glaser brings several years of chief executive and senior operations experience to the role, which is responsible for the management of all operational activities and processes at the facility. This includes accountability for plant ...
» read moreMGP Ingredients, Inc. Announces FY 2011 Third Quarter Results
Highlights
- Company reports fiscal 2011 Q3 diluted EPS of $0.04 per share vs. a year-ago loss of $0.14 per share despite significantly higher corn and flour costs
- FY 2011 nine-month income from operations increases by $4.2 million over prior year
- Total quarterly sales increase 30 percent from a year ago
- Q3 distillery operations show higher sales and profit margins... » read more
Biopolymer Staff Appointments Announced at MGP Ingredients, Inc.
ATCHISON, Kan., March 7, 2011— Mike Parker has been promoted to manager of biopolymer sales at MGP Ingredients, Inc. (Nasdaq/MGPI) effective immediately. In addition, Venkata Mattegunta and Chris Wagner have joined the company as research associates to boost research and product development initiatives in the biopolymer area, while also complementing research activities related to other plant-based ingredient...
» read moreMGP Ingredients, Inc. Launches New Enhanced Website
ATCHISON, Kan., February 14, 2011—MGP Ingredients, Inc. (MGPI) today launched a newly designed website to strengthen online communications capabilities as an essential part of the company’s digital and overall business model strategy. The reconstructed site, which can be accessed at www.mgpingredients.com, provides a more comprehensive and interactive venue for reaching out to new and existing customers, as...
» read moreBenedictine College to Honor Ladd and Karen Seaberg with Cross of the Order of St. Benedict
ATCHISON, Kan., February 14, 2011--Ladd and Karen Seaberg have been selected by Benedictine College, Atchison, Kan., to receive that institution’s prestigious Cross of the Order of St. Benedict award. They, along with Dave and Sherri Laughlin of Overland Park, Kan., will be honored during the college’s annual Scholarship Ball on Saturday, Feb. 26, at the Westin...
» read moreMGP Ingredients, Inc. Announces FY 2011 Second Quarter Results
Highlights
- Total quarterly sales increase 21 percent above a year ago driven mainly by food grade alcohol
- FY 2011 Q2 income from operations increases by $3.8 million over prior year
MGP Ingredients and Ryan Transportation Service, Inc. Form Transportation Management Partnership
ATCHISON, Kan., February 8, 2011—MGP Ingredients, Inc. (MGPI) has formed a transportation management partnership with Ryan Transportation Service, Lenexa, Kan., as part of the company’s strategic initiative to strengthen its world class customer service capabilities. Under this new arrangement, Ryan Transportation assumes a lead logistics role in managing all truck and rail carriers in servicing MGPI’s North American customers, as well as ensuring the delivery performance for the company’s...
» read moreCheryl Harrity Appointed Corporate Director of Supply Chain
ATCHISON, Kan., December 2, 2010 — MGP Ingredients, Inc. (MGPI), has announced the appointment of Cheryl Harrity to the position of corporate director of supply chain effective immediately. For the past year, she has served as a founding partner of NaviChain, LLC., Maple Valley, Wash., where she was responsible for project management, including leading clients such as MGPI in customized methodologies for identifying...
» read moreMGP Ingredients, Inc. Announces FY 2011 First Quarter Results
Highlights
- Company reports Q1 diluted earnings of $0.28 per share vs. year-ago earnings of $0.23 per share
- Total sales increase of 13 percent driven mainly by food grade alcohol
- Company strengthens sales, product innovation and customer-facing teams
Mike Lasater Named National Sales Director
ATCHISON, Kan., November 4, 2010—Mike Lasater has been appointed national sales director for the ingredient solutions segment at MGP Ingredients, Inc. (Nasdaq/MGPI). He has nearly 20 years of experience in food ingredient sales, including eight years with MGPI, where he began his career as a territorial sales manager in the company’s former wheat starch business unit in 1992. “We are very...
» read moreLori Norlen and Scott Girdley Join Finance Group
ATCHISON, Kan., October 28, 2010—MGP Ingredients, Inc. (Nasdaq/MGPI) has announced the appointment of Lori Norlen to the position of assistant controller. Scott Girdley, D. Mgt, has joined the company as director of supply chain finance. Norlen comes to MGPI with over 25 years of experience in accounting and finance roles. She most recently served as manager of corporate accounting for Hostess Brands in ...
» read moreMGPI Stockholders Re-Elect John Speirs, Cloud L. "Bud" Cray and John Byom to Board of Directors
ATCHISON, Kan., October 21, 2010—John Speirs, chairman and co-founder of Stellus Consulting, a Minneapolis-based firm that specializes in developing business and branding strategies, was re-elected to the Board of Directors of MGP Ingredients, Inc. (Nasdaq/MGPI) by holders of the...
» read moreMGP Ingredients, Inc. Points to Continued Progress at Annual Meeting
ATCHISON, Kan., October 21, 2010—MGP Ingredients, Inc. (Nasdaq/MGPI) today held its annual meeting of stockholders. Following a welcome and introductions by Board Chairman John Speirs, a business overview was provided by