Luxco

MGP Promotes Amel Pasagic to Chief Commercial Officer

Retrieved on: 
Monday, January 8, 2024

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

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.”

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

Retrieved on: 
Monday, November 20, 2023

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

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 Fourth Quarter and Full Year 2022 Results

Retrieved on: 
Thursday, February 23, 2023

ATCHISON, Kan., Feb. 23, 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 fourth quarter and full year ended December 31, 2022.

Key Points: 
  • For the fourth quarter 2022, sales for the Branded Spirits segment decreased less than 1% to $60.9 million.
  • In the fourth quarter 2022, sales for the Ingredient Solutions segment increased 24% to $29.0 million.
  • Advertising and promotion expenses for the fourth quarter 2022 increased $4.7 million, or 75%, to $10.9 million as compared to the fourth quarter 2021.
  • Corporate selling, general and administrative ("SG&A") expenses for the fourth quarter 2022 increased $5.1 million to $22.6 million as compared to the fourth quarter 2021.

Daviess County Bourbon and Ducks Unlimited announce three-year partnership

Retrieved on: 
Wednesday, January 11, 2023

MEMPHIS, Tenn., Jan. 11, 2023 /PRNewswire/ -- Ducks Unlimited (DU) and Daviess County Bourbon announced they have entered into a three-year partnership that designates the entire family of Daviess County Bourbon variants as Proud Partner of Ducks Unlimited – the highest partnership designation offered by the organization. The partnership officially commences in January 2023.

Key Points: 
  • MEMPHIS, Tenn., Jan. 11, 2023 /PRNewswire/ -- Ducks Unlimited (DU) and Daviess County Bourbon announced they have entered into a three-year partnership that designates the entire family of Daviess County Bourbon variants as Proud Partner of Ducks Unlimited – the highest partnership designation offered by the organization.
  • Launched in partnership between Lux Row Distillers (makers of Daviess County Bourbon) and DU 2021, Daviess County Double Barrel Bourbon proudly featured the DU logo, which will now be found on all Daviess County Bourbon variants.
  • DU plans a similar level of support to the entire Daviess County Bourbon brand family throughout the partnership period, including sponsorship opportunities for Daviess County Bourbon at the DU National Convention.
  • "Aligning the entire Daviess County Bourbon brand family with DU and its members and supporters was a logical next step, following our successful partnership when launching Daviess County Double Barrel Bourbon in 2021," said Eric Winter, whiskey brand manager at Luxco.

MGP Ingredients Declares $0.12 Quarterly Dividend

Retrieved on: 
Thursday, November 3, 2022

The dividend is payable on December 2, 2022 to stockholders of record as of November 18, 2022.

Key Points: 
  • The dividend is payable on December 2, 2022 to stockholders of record as of November 18, 2022.
  • MGP Ingredients, Inc. (Nasdaq: MGPI) is a leading producer of premium distilled spirits, branded spirits, and food ingredient solutions.
  • With distilleries in Kentucky, Kansas, Indiana and Mexico, and bottling operations in Missouri, Ohio, and Northern Ireland, MGP has the infrastructure and expertise to create on any scale.
  • The forward-looking statements contained herein include, but are not limited to, statements about the expected effects on MGP Ingredients, Inc. ("the Company") of continuing consumer trends and our announced expansionary projects.

HAGENS BERMAN, NATIONAL TRIAL ATTORNEYS, Encourages MGP Ingredients (MGPI) Investors to Contact the Firm’s Attorneys, Firm Investigating Possible Securities Law Violations

Retrieved on: 
Wednesday, October 26, 2022

The firm is investigating possible securities law violations.

Key Points: 
  • The firm is investigating possible securities law violations.
  • The investigation focuses on MGP Ingredients assurances regarding the purported benefits of its Luxco, Inc. acquisition, which closed on April 1, 2021.
  • On Oct. 12, 2022 MGP Ingredients assurances came into question, when analyst Spruce Point Capital published a scathing report entitled Over a Barrel.
  • Hagens Berman is a global plaintiffs rights complex litigation law firm focusing on corporate accountability through class-action law.

MGP Ingredients Schedules Third Quarter 2022 Conference Call/Webcast for Thursday, November 3

Retrieved on: 
Thursday, October 20, 2022

The company expects to release its financial results before the market opens that morning.

Key Points: 
  • The company expects to release its financial results before the market opens that morning.
  • Management on the call will include David Colo, president and CEO and Brandon Gall, vice president of finance and CFO.
  • The call/webcast will be available via:
    A replay will be available on the MGP Ingredients website after the call concludes.
  • MGP Ingredients, Inc. (Nasdaq: MGPI) is a leading producer of premium distilled spirits, branded spirits, and food ingredient solutions.

Spruce Point Capital Management Announces Investment Opinion: Releases Report and Strong Sell Research Opinion on MGP Ingredients, Inc. (Nasdaq: MGPI)

Retrieved on: 
Wednesday, October 12, 2022

Spruce Point finds evidence that MGPI may have spring-loaded results by making changes to Luxcos go-to-market strategy immediately after deal announcement.

Key Points: 
  • Spruce Point finds evidence that MGPI may have spring-loaded results by making changes to Luxcos go-to-market strategy immediately after deal announcement.
  • As a reminder, our full report, along with its investment disclaimers, can be downloaded and viewed at www.SprucePointCap.com .
  • Spruce Point Capital Management, LLC is a forensic fundamentally-oriented investment manager that focuses on short-selling, value and special situation investment opportunities.
  • Spruce Point Capital Management, LLC is a member of the Financial Industry Regulatory Authority, CRD number 288248.