MGP

MGP Ingredients Reports Strong Fourth Quarter and Full Year 2023 Results

Retrieved on: 
Thursday, February 22, 2024
Acquisition, MGP, Traction, Growth, Advertising, Webcast, EPS, Penelope, Corporation, Ageing, MGP of Indiana, Video game

For the fourth quarter 2023, sales for the Branded Spirits segment increased 19% to $72.6 million.

Key Points: 
  • For the fourth quarter 2023, sales for the Branded Spirits segment increased 19% to $72.6 million.
  • In the fourth quarter 2023, sales for the Ingredient Solutions segment increased 15% to $33.4 million.
  • Advertising and promotion expenses for the fourth quarter 2023 increased $1.5 million, or 14%, to $12.3 million as compared to the fourth quarter 2022.
  • Corporate selling, general and administrative ("SG&A") expenses for the fourth quarter 2023 increased $3.2 million to $25.8 million as compared to the fourth quarter 2022.

Maxar Intelligence Appoints Arvind Srinivasan as Chief Technology Officer

Retrieved on: 
Thursday, February 8, 2024
Satellite, Photography, Defense, Other Defense, Hardware, Technology, Aerospace, Manufacturing, Cloud, 3D, MGP, Google News, Google Earth, Multimedia, Engineering, Credit, Meta, Intelligence

Maxar Intelligence, a provider of secure, precise, geospatial intelligence, today announced the appointment of Arvind Srinivasan as Chief Technology Officer.

Key Points: 
  • Maxar Intelligence, a provider of secure, precise, geospatial intelligence, today announced the appointment of Arvind Srinivasan as Chief Technology Officer.
  • Srinivasan is responsible for Maxar’s technology strategy, with a focus on developing scalable, secure geospatial intelligence solutions and digital platforms.
  • View the full release here: https://www.businesswire.com/news/home/20240208303105/en/
    Maxar Intelligence appoints Arvind Srinivasan as Chief Technology Officer.
  • (Credit: Maxar Intelligence)
    “Arvind Srinivasan has a decades-long track record of developing first-to-market digital platforms in the geospatial sector and managing large-scale infrastructure systems at some of the world’s most successful technology companies,” said Dan Smoot, Maxar Intelligence Chief Executive Officer.

Acer Refreshes Predator Helios Gaming Laptops with Intel Core 14th Gen Processors and NVIDIA GeForce RTX 40 Series Laptop GPUs

Retrieved on: 
Monday, January 8, 2024
IPS, RGB, Notebook, Mini, GeForce, Software, IEEE 802.11be, Infinity, Xbox, Ultra, Intel, USD, GeForce 20 series, CPU, Series, WQXGA, HDMI, Communication, Microsoft, MGP, WASD, Predation, SD card, Helios, USB, Generation IV reactor, Intel Core, EUR, Acer Inc., Windows 11, Travel, DTS, Media center, Central processing unit, LAS, Noise, Adventure, Memory, NVIDIA, Infinity mirror, TB, Leisure, DLSS, Cyberpunk, Cyberpunk 2077, Pressure, Power, Video game

LAS VEGAS, Jan. 8, 2024 /PRNewswire/ -- Acer unleashes a series of powerhouse gaming laptops, headlined by the refreshed models of the Predator Helios 18 and Predator Helios 16. Acer also announced the new Predator Helios Neo 18 gaming laptop and major updates to the Predator Helios Neo 16, all outfitted with the latest Intel® Core™ 14th gen processors and NVIDIA® GeForce RTX™ 40 Series Laptop GPUs with DLSS 3.5 technology and NVIDIA Advanced Optimus. NVIDIA RTX Laptop GPUs are packed with specialized AI Tensor Cores enabling unmatched AI performance and accelerations in creative apps, ultra-efficient productivity, blistering fast gaming, and more. The Predator laptops feature Microsoft's Copilot in Windows 11 and a dedicated Copilot key for quick access to AI-powered task assistance. They also come with one month of Xbox Game Pass Ultimate, giving gamers access to hundreds of high-quality PC games.

Key Points: 
  • Acer also announced the new Predator Helios Neo 18 gaming laptop and major updates to the Predator Helios Neo 16, all outfitted with the latest Intel® Core™ 14th gen processors and NVIDIA® GeForce RTX™ 40 Series Laptop GPUs with DLSS 3.5 technology and NVIDIA Advanced Optimus.
  • NVIDIA RTX Laptop GPUs are packed with specialized AI Tensor Cores enabling unmatched AI performance and accelerations in creative apps, ultra-efficient productivity, blistering fast gaming, and more.
  • "The new Acer Predator Helios is a beautiful laptop that truly unleashes the performance of our new Intel Core (14th Gen) HX-Series processors," says Roger Chandler, VP & GM Enthusiast PC & Workstation at Intel.
  • The Predator Helios 16 and Predator Helios 18 laptops also come with the latest sensory technology features.

MGP Promotes Amel Pasagic to Chief Commercial Officer

Retrieved on: 
Monday, January 8, 2024
MGP, Acquisition, Webster University, MGP of Indiana, Luxco, Information technology, Growth, Intelligence, Management

ATCHISON, Kan., Jan. 08, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading supplier of distilled spirits, branded spirits and food ingredient solutions, is pleased to announce the promotion of Amel Pasagic to the newly created position of Chief Commercial Officer, effective today.

Key Points: 
  • ATCHISON, Kan., Jan. 08, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading supplier of distilled spirits, branded spirits and food ingredient solutions, is pleased to announce the promotion of Amel Pasagic to the newly created position of Chief Commercial Officer, effective today.
  • As Chief Commercial Officer, Pasagic will be responsible for all commercial activities across MGP’s three business segments.
  • “Amel’s wealth of experience and his unique strategic view of our business will be critical in driving the next phase of growth for MGP,” said David Bratcher, MGP President and Chief Executive Officer.
  • He was promoted to the newly created role of Chief Information Officer for MGP in July that year.

MGP Ingredients Announces Election of David Bratcher to Board of Directors

Retrieved on: 
Monday, December 11, 2023
MGP, Luxco, Allied Domecq, MGP of Indiana, Management

Bratcher, who will become the Company’s next Chief Executive Officer and President, effective January 1, 2024, is a longtime beverage alcohol industry veteran and executive.

Key Points: 
  • Bratcher, who will become the Company’s next Chief Executive Officer and President, effective January 1, 2024, is a longtime beverage alcohol industry veteran and executive.
  • Prior to the 2021 Luxco merger, Bratcher served in several leadership roles at Luxco since 1998, including serving as Luxco’s President since 2013.
  • “I am pleased to see David’s appointment to the Board of Directors and am proud of our deliberate succession planning process to ensure this seamless transition,” said Karen Seaberg, Chairman of the Board of MGP Ingredients.
  • “David Bratcher has a proven track record as a leader and is uniquely equipped to successfully lead the next chapter of MGP’s growth story.”

Provincial goal of building 1.5 million homes will not be realized without adequate land supply

Retrieved on: 
Monday, December 11, 2023
Economic development, Construction, Policy, GTHA, Interview, MGP, Golden Horseshoe, Government, GTA, City, Housing, BILD, Human, Growth, GGH, Population growth

This will jeopardize the provincial objective of building 1.5 million new homes and undermine efforts to address housing supply and affordability.

Key Points: 
  • This will jeopardize the provincial objective of building 1.5 million new homes and undermine efforts to address housing supply and affordability.
  • “We are already in a housing supply deficit,” said Dave Wilkes, BILD President and CEO.
  • Looking forward to 2051, with even higher targets for high-density apartments, we can anticipate this shortfall to increase.
  • Following the reduction of land supply by the 2023 provincial “resetting” of official plan approvals, the housing shortfall could increase to 206,800 grade-related homes (10,400 ha) plus any shortfall in apartment growth.

MGP Distillery in Bardstown, Kentucky, Earns EPA's ENERGY STAR® Certification for Superior Energy Efficiency

Retrieved on: 
Monday, November 20, 2023
EPA, Assemblies of God, Plant, Certification, Industrial, MGP, Luxco, Partnership, Renewable energy, Lithium

BARDSTOWN, Ky., Nov. 20, 2023 /PRNewswire/ -- Lux Row Distillers, the Bardstown, Ky., home of award-winning brands including Ezra Brooks, Rebel and Blood Oath bourbons, has received ENERGY STAR certification from the U.S. Environmental Protection Agency. It is one of eight distilleries to first receive the certification from the U.S. Environmental Protection Agency's ENERGY STAR program. The U.S. EPA and the Distilled Spirits Council of the United States have partnered on helping the distilled spirits industry improve its energy efficiency and save money on utility bills.

Key Points: 
  • ENERGY STAR status signifies that Lux Row performs in the top 25 percent of distilleries nationwide for energy efficiency and meets strict energy efficiency performance levels set by the EPA.
  • "We are pleased to accept EPA's ENERGY STAR certification in recognition of our energy efficiency efforts," said David Whitmer, vice president of quality and compliance for MGP.
  • "EPA applauds the commitment to energy efficiency demonstrated by ENERGY STAR- certified plants," said Cindy Jacobs, chief of the ENERGY STAR Commercial & Industrial Branch.
  • ENERGY STAR was introduced by EPA in 1992 as a voluntary, market-based partnership to reduce greenhouse gas emissions through energy efficiency.

MGP Ingredients Announces CEO Retirement and Succession Plan

Retrieved on: 
Thursday, November 2, 2023
Luxco, Allied Domecq, Development, MGP, MGP of Indiana, Growth, Art Seaberg, Hand, Management

ATCHISON, Kan., Nov. 02, 2023 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, announced today that David Colo will retire from his role as Chief Executive Officer and President of MGP, effective December 31, 2023. The Board of Directors has elected David Bratcher, MGP’s Chief Operating Officer and President of Branded Spirits, as its next Chief Executive Officer and President, effective January 1, 2024. Mr. Colo will remain with MGP through April 2024, serving in an advisory role to facilitate a smooth transition.

Key Points: 
  • Mr. Colo will remain with MGP through April 2024, serving in an advisory role to facilitate a smooth transition.
  • Since becoming the CEO and President of MGP in May 2020, Colo has led the Company through consistent growth and record results, while also establishing a strong foundation for future sustainable growth.
  • What David, the MGP Board, and all the employees have accomplished during his tenure is nothing short of impressive,” said David Bratcher.
  • “I am extremely grateful to become MGP’s next CEO and look forward to working with the MGP Board and all our employees in challenging ourselves to continue moving the business forward.”

MGP Ingredients Reports Strong Third Quarter 2023 Results

Retrieved on: 
Thursday, November 2, 2023
Ageing, Penelope, EBITDA, Corporation, Advertising, Acquisition, MGP, MGP of Indiana, EPS, Webcast, Video game, Retail

ATCHISON, Kan., Nov. 02, 2023 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, today reported results for the third quarter ended September 30, 2023.

Key Points: 
  • 2023 third quarter consolidated results compared to 2022 third quarter:
    Sales increased 5% to $211.6 million.
  • “We are very pleased with our continued momentum this quarter, which has again yielded strong results across each of our business segments,” said David Colo, president and CEO of MGP Ingredients.
  • Advertising and promotion expenses for the third quarter 2023 increased $2.2 million to $9.5 million as compared to the third quarter 2022.
  • The corporate effective tax rate for the third quarter 2023 was 25.0%, compared with 24.2% from the third quarter 2022.

MGP Ingredients Reports Record Second Quarter 2023 Results

Retrieved on: 
Thursday, August 3, 2023
Consumer, MGP of Indiana, MGP, EBITDA, Acquisition, Advertising, Corporation, Webcast, EPS, Ageing, Payment card, Bookkeeping, Retail, Video game

ATCHISON, Kan., Aug. 03, 2023 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, today reported results for the second quarter ended June 30, 2023.

Key Points: 
  • In the second quarter 2023, sales in the Ingredient Solutions segment increased 18% to $34.5 million year- over-year.
  • Advertising and promotion expenses for the second quarter 2023 increased $2.6 million, or 42%, to $8.6 million as compared to the second quarter 2022.
  • Corporate selling, general and administrative ("SG&A") expenses for the second quarter 2023 increased $5.7 million, or 32%, to $23.5 million as compared to the second quarter 2022.
  • The corporate effective tax rate for the second quarter 2023 was 25.3%, compared with 22.4% from the second quarter 2022.