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MGP Ingredients ( (MGPI) ) has issued an update.
MGP Ingredients, Inc. has announced leadership changes with Brandon Gall appointed as Interim President and CEO, succeeding David Bratcher, who will retire. Donn Lux will become Chairman of the Board, succeeding Karen Seaberg, as the company seeks a permanent CEO to steer its growth in the branded spirits industry. The company reaffirms its 2024 sales and earnings guidance, with capital expenditures adjusted due to delays in construction. These changes are poised to impact MGP’s strategic initiatives and strengthen its position in the market.
More about MGP Ingredients
MGP Ingredients, Inc. is a leading U.S. producer of premium branded and distilled spirits as well as food ingredient solutions. Established in 1941, the company offers a diverse range of products including bourbon, rye whiskeys, gins, and vodkas. With distilleries and bottling operations in several states and countries, MGP serves a wide spectrum of brands and customers, from small craft distillers to multinational corporations. The company also operates a significant branded spirits portfolio, which includes well-known brands such as Ezra Brooks and Rebel, and offers ingredient solutions that provide functional and nutritional benefits for food products.
YTD Price Performance: -57.29%
Average Trading Volume: 448,171
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $917.6M
For detailed information about MGPI stock, go to TipRanks’ Stock Analysis page.
