Market Summary
USD102.42-1.24
Market Closed-1.20%
MGPI Alerts
MGPI Stock Price
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MGPI Price/Sales (Trailing)
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Price Action
52 Week Range
90.69125.74
(Low)(High)
Last 7 days
1.7%
Last 30 days
-13.1%
Last 90 days
-3.4%
Trailing 12 Months
-2.3%
MGPI Financial Health
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Net sales
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Latest Insider Trading transactions for MGPI
Filter Transactions| Datesorted ascending | Name | Buy/Sell | $ Value | Avg. Price | # Shares | Title |
|---|---|---|---|---|---|---|
2023-09-07 | CNL 2013 Irrevocable Trust dated April 2, 2013 | sold | -740,639 | 113 | -6,500 | - |
2023-09-07 | Lux Catherine N. | sold | -740,639 | 113 | -6,500 | - |
2023-09-06 | CNL 2013 Irrevocable Trust dated April 2, 2013 | sold | -750,098 | 115 | -6,500 | - |
2023-09-06 | Lux Catherine N. | sold | -750,098 | 115 | -6,500 | - |
2023-09-05 | Seaberg Karen | sold | -99,988 | 117 | -853 | - |
2023-09-05 | Seaberg Karen | sold | - | - | -101,683 | - |
2023-09-01 | Mingus Lori L.S. | sold | -71,109 | 120 | -591 | - |
2023-08-28 | Ann S. Lux 2005 Irrevocable Trust FBO Paul S. Lux dated September 16, 2005 | sold | -1,190,630 | 119 | -10,000 | - |
2023-08-28 | Lux Paul S. | sold | -1,190,630 | 119 | -10,000 | - |
2023-08-25 | Lux Paul S. | sold | -1,188,370 | 118 | -10,000 | - |
Which funds bought or sold MGPI recently?
View All Details| Datesorted ascending | Fund Name | Type | % Chg | $ Change | $ Held | % Portfolio |
|---|---|---|---|---|---|---|
2023-09-20 | BARCLAYS PLC | added | 19.77 | 280,000 | 1,168,000 | -% |
2023-09-12 | Farther Finance Advisors, LLC | unchanged | - | 239 | 2,657 | -% |
2023-08-24 | Alberta Investment Management Corp | added | 9.69 | 296,941 | 1,743,100 | 0.02% |
2023-08-22 | VIRGINIA RETIREMENT SYSTEMS ET AL | sold off | -100 | -444,912 | - | -% |
2023-08-21 | OSAIC HOLDINGS, INC. | added | 26.42 | 87,075 | 310,748 | -% |
2023-08-21 | TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY | added | 5.73 | 74,000 | 530,000 | -% |
2023-08-21 | CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | added | 6.24 | 272,354 | 1,898,800 | -% |
2023-08-18 | Legato Capital Management LLC | unchanged | - | 57,407 | 638,211 | 0.09% |
2023-08-16 | Nuveen Asset Management, LLC | reduced | -3.93 | 1,554,010 | 29,476,000 | 0.01% |
2023-08-15 | GOLDMAN SACHS GROUP INC | reduced | -20.31 | -950,198 | 6,692,140 | -% |
Latest Funds Activity
Calls
Puts
Net Call Options
No. of Funds
MGPI Alerts
Schedule 13G FIlings of MGP Ingredients
| Date Filed | Name of Filer | Percent of Class | No. of Shares | Form Type | |
|---|---|---|---|---|---|
| Sep 07, 2023 | seaberg karen | 13.5% | 2,962,883 | SC 13D/A | |
| Jun 09, 2023 | seaberg karen | 14.0% | 3,079,486 | SC 13D/A | |
| Feb 14, 2023 | stephens investment management group llc | 3.6% | 793,947 | SC 13G/A | |
| Feb 13, 2023 | champlain investment partners, llc | 3.42% | 751,515 | SC 13G/A | |
| Feb 09, 2023 | vanguard group inc | 5.02% | 1,104,828 | SC 13G | |
| Feb 03, 2023 | lux donn s. | 37.4% | 8,217,153 | SC 13D/A | |
| Jan 27, 2023 | seaberg karen | 14.2% | 3,125,312 | SC 13D/A | |
| Jan 26, 2023 | blackrock inc. | 11.7% | 2,577,182 | SC 13G/A | |
| Jan 20, 2023 | blackrock inc. | 11.7% | 2,577,182 | SC 13G/A | |
| Feb 11, 2022 | champlain investment partners, llc | 6.70% | 1,471,165 | SC 13G/A |
Recent SEC filings of MGP Ingredients
View All Filings| Date Filed | Form Type | Document | |
|---|---|---|---|
| Oct 02, 2023 | 144/A | 144/A | |
| Oct 02, 2023 | 144/A | 144/A | |
| Sep 27, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 26, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 26, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 26, 2023 | 144 | Notice of Insider Sale Intent | |
| Sep 08, 2023 | 4 | Insider Trading | |
| Sep 08, 2023 | 4 | Insider Trading | |
| Sep 07, 2023 | 4 | Insider Trading | |
| Sep 07, 2023 | SC 13D/A | 13D - Major Acquisition |
MGPI Fair Value
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Peers (Alternatives to MGP Ingredients)
View All Peers In Detail| Name | Mkt Capsorted ascending | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|
| LARGE-CAP | ||||||||
KO | 240.0B | 44.1B | -6.46% | 0.50% | 22.83 | 5.44 | 6.82% | 9.81% |
PEP | 233.1B | 90.1B | -3.51% | 3.62% | 29.51 | 2.59 | 10.11% | -14.47% |
MNST | 55.0B | 6.7B | -7.09% | 20.84% | 38.34 | 8.23 | 11.34% | 17.07% |
GIS | 47.8B | 20.3B | -5.54% | -17.74% | 16.42 | 2.47 | 5.79% | -15.62% |
KDP | 43.6B | 14.6B | -6.97% | -12.87% | 27.2 | 2.99 | 9.75% | -26.33% |
TAP | 13.5B | 13.3B | -0.48% | 30.46% | 332.08 | 1.02 | 4.18% | -94.42% |
| MID-CAP | ||||||||
CELH | 13.4B | 952.0M | -10.41% | 91.88% | -121.19 | 14.05 | 95.66% | -699.65% |
SAM | 4.8B | 2.2B | 7.13% | 21.65% | 74.37 | 2.21 | 4.84% | 210.43% |
MGPI | 2.3B | 802.2M | -13.13% | -2.35% | 20.88 | 2.84 | 9.33% | -7.58% |
| SMALL-CAP | ||||||||
FIZZ | 5.1B | 1.2B | -3.33% | 22.94% | 35.58 | 4.31 | 3.03% | 11.55% |
REED | 8.6M | 48.3M | 3480.11% | 988.71% | -0.44 | 0.17 | -7.28% | 7.01% |
WTER | 3.5M | 63.8M | -47.96% | 3.47% | -0.13 | 0.05 | 16.44% | 30.77% |
RIBT | 2.9M | 36.4M | -19.61% | -75.33% | -0.18 | 0.08 | 13.44% | -36.80% |
MGP Ingredients News
Returns for MGPI
Cumulative Returns on MGPI
36.3%
10-Year Cumulative Returns
15.1%
7-Year Cumulative Returns
7.2%
5-Year Cumulative Returns
35.5%
3-Year Cumulative Returns
Risks for MGPI
What is the probability of a big loss on MGPI?
78.5%
Probability that MGP Ingredients stock will be more than 20% underwater in next one year
45.4%
Probability that MGP Ingredients stock will be more than 30% underwater in next one year.
40%
Probability that MGP Ingredients stock will be more than 40% underwater in next one year.
*Calculated based on probability distribution of losses observed in actual data in the last 5 years.
How does MGPI drawdown profile look like?
Y-axis is the maximum loss one would have experienced if MGP Ingredients was unfortunately bought at previous high price.
Drawdowns
Financials for MGP Ingredients
Income Statement (Last 12 Months)(In Millions)
| Income Statement (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Revenue | 1.8% | 802 | 788 | 782 | 758 | 734 | 714 | 627 | 561 | 487 | 405 | 396 | 387 | 375 | 373 | 363 | 375 | 379 | 377 | 376 | 359 | 351 |
| Gross Profit | 6.8% | 268 | 251 | 253 | 243 | 241 | 238 | 199 | 178 | 144 | 108 | 99.00 | 89.00 | 84.00 | 83.00 | 77.00 | 81.00 | 81.00 | 81.00 | 84.00 | 78.00 | 77.00 |
| S&GA Expenses | 7.2% | 85.00 | 79.00 | 75.00 | 70.00 | 70.00 | 78.00 | 73.00 | 71.00 | 61.00 | 44.00 | 42.00 | 32.00 | 30.00 | 30.00 | 29.00 | 33.00 | 33.00 | 33.00 | 33.00 | 33.00 | 34.00 |
| EBITDA | -100.0% | - | 153 | 162 | 177 | 177 | 175 | 144 | - | - | 75.00 | 68.00 | 68.00 | 65.00 | 64.00 | 59.00 | 59.00 | 59.00 | - | - | - | - |
| EBITDA Margin | -100.0% | - | 0.19* | 0.21* | 0.23* | 0.24* | 0.25* | 0.23* | - | - | 0.19* | 0.17* | 0.17* | 0.17* | 0.17* | 0.16* | 0.16* | 0.16* | - | - | - | - |
| Interest Expenses | - | - | - | - | - | - | - | - | - | - | - | - | 2.00 | 2.00 | 2.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 |
| Earnings Before Taxes | 7.6% | 142 | 132 | 140 | 156 | 156 | 150 | 121 | 93.00 | 75.00 | 60.00 | 53.00 | 53.00 | 51.00 | 51.00 | 46.00 | 46.00 | 47.00 | 47.00 | 49.00 | 43.00 | 53.00 |
| EBT Margin | -100.0% | - | 0.17* | 0.18* | 0.21* | 0.21* | 0.21* | 0.19* | 0.17* | 0.15* | 0.15* | 0.13* | 0.14* | 0.14* | 0.14* | 0.13* | - | - | - | - | - | - |
| Net Income | 6.4% | 109 | 103 | 109 | 118 | 118 | 113 | 91.00 | 71.00 | 57.00 | 46.00 | 40.00 | 42.00 | 39.00 | 39.00 | 39.00 | 38.00 | 38.00 | 38.00 | 37.00 | 38.00 | 43.00 |
| Net Income Margin | -100.0% | - | 0.13* | 0.14* | 0.16* | 0.16* | 0.16* | 0.15* | 0.13* | 0.12* | 0.11* | 0.10* | 0.11* | 0.11* | 0.10* | 0.11* | - | - | - | - | - | - |
| Free Cashflow | -100.0% | - | 21.00 | 44.00 | 50.00 | 37.00 | 48.00 | 41.00 | 51.00 | 67.00 | 44.00 | 34.00 | 17.00 | 2.00 | 5.00 | 3.00 | - | - | - | - | - | - |
Balance Sheet(In Millions)
| Balance Sheet | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Assets | 17.8% | 1,395 | 1,184 | 1,158 | 1,132 | 1,107 | 1,077 | 1,041 | 1,017 | 1,014 | 381 | 367 | 362 | 357 | 382 | 323 | 307 | 299 | 290 | 278 | 274 | 260 |
| Current Assets | 9.6% | 521 | 475 | 454 | 441 | 423 | 395 | 367 | 352 | 354 | 230 | 222 | 221 | 217 | 242 | 184 | 176 | 169 | 160 | 155 | 161 | 149 |
| Cash Equivalents | -30.8% | 22.00 | 32.00 | 48.00 | 51.00 | 37.00 | 27.00 | 22.00 | 16.00 | 37.00 | 23.00 | 22.00 | 20.00 | 12.00 | 43.00 | 3.00 | 4.00 | 2.00 | - | 5.00 | - | 2.00 |
| Net PPE | 4.0% | 251 | 241 | 236 | 221 | 212 | 207 | 207 | 197 | 190 | 139 | 132 | 130 | 129 | 129 | 128 | 122 | 120 | 120 | 121 | 110 | 109 |
| Goodwill | 43.9% | 326 | 226 | 226 | 226 | 226 | 226 | 226 | 228 | 228 | 224 | 3.00 | - | - | - | - | - | - | - | - | - | - |
| Liabilities | 44.0% | 588 | 408 | 413 | 408 | 404 | 397 | 397 | 403 | 421 | 103 | 104 | 110 | 114 | 147 | 92.00 | 88.00 | 86.00 | 85.00 | 76.00 | 83.00 | 78.00 |
| Current Liabilities | 16.0% | 119 | 102 | 105 | 101 | 93.00 | 84.00 | 89.00 | 86.00 | 83.00 | 55.00 | 53.00 | 44.00 | 39.00 | 41.00 | 39.00 | 35.00 | 32.00 | 30.00 | 37.00 | 32.00 | 32.00 |
| Long Term Debt | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 41.00 | 41.00 | 21.00 | 21.00 | 21.00 | 21.00 |
| LT Debt, Non Current | - | - | - | 30.00 | - | - | - | 35.00 | 36.00 | 37.00 | 37.00 | 38.00 | 40.00 | 40.00 | 41.00 | 41.00 | - | - | - | 21.00 | - | - |
| Shareholder's Equity | 4.2% | 808 | 776 | 747 | 725 | 703 | 679 | 644 | 615 | 594 | 279 | 263 | 252 | 243 | 236 | 231 | 219 | 212 | 205 | 201 | 190 | 182 |
| Retained Earnings | 6.2% | 501 | 471 | 443 | 423 | 402 | 379 | 344 | 315 | 294 | 276 | 263 | 253 | 245 | 239 | 231 | 220 | 213 | 207 | 199 | 188 | 181 |
| Additional Paid-In Capital | 0.4% | 322 | 321 | 319 | 318 | 317 | 317 | 316 | 316 | 315 | 18.00 | 16.00 | 15.00 | 15.00 | 14.00 | 14.00 | 14.00 | 13.00 | 13.00 | 15.00 | 15.00 | 14.00 |
| Accumulated Depreciation | 2.1% | 225 | 220 | 215 | 210 | 206 | 226 | 197 | 194 | 189 | 185 | 182 | 194 | 192 | 188 | 186 | 183 | 180 | 177 | 175 | 172 | 170 |
| Shares Outstanding | 0.0% | 22.00 | 22.00 | 22.00 | 22.00 | 22.00 | 22.00 | 22.00 | 22.00 | 22.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 | 17.00 |
| Minority Interest | -14.5% | -1.28 | -1.12 | -1.08 | -0.93 | -0.75 | -0.56 | -0.49 | -0.28 | -0.08 | - | - | - | - | - | - | - | - | - | - | - | - |
Cashflow (Last 12 Months)(In Millions)
| Cashflow (Last 12 Months) | (In Millions) | |||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Description | (%) Q/Q | 2023Q2 | 2023Q1 | 2022Q4 | 2022Q3 | 2022Q2 | 2022Q1 | 2021Q4 | 2021Q3 | 2021Q2 | 2021Q1 | 2020Q4 | 2020Q3 | 2020Q2 | 2020Q1 | 2019Q4 | 2019Q3 | 2019Q2 | 2019Q1 | 2018Q4 | 2018Q3 | 2018Q2 |
| Cashflow From Operations | -7.9% | 66.00 | 72.00 | 89.00 | 90.00 | 84.00 | 94.00 | 88.00 | 95.00 | 95.00 | 70.00 | 53.00 | 37.00 | 23.00 | 24.00 | 20.00 | 44.00 | 35.00 | 29.00 | 33.00 | 19.00 | 24.00 |
| Share Based Compensation | 31.1% | 7.00 | 5.00 | 6.00 | 3.00 | 3.00 | 4.00 | 6.00 | 6.00 | 6.00 | 5.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 |
| Cashflow From Investing | -210.9% | -163 | -52.72 | -47.81 | -25.22 | -31.87 | -181 | -182 | -193 | -177 | -24.80 | -19.65 | -21.88 | -22.97 | -21.21 | -17.93 | -23.74 | -25.35 | -28.91 | -31.05 | -26.31 | -1.65 |
| Cashflow From Financing | 654.5% | 82.00 | -14.85 | -14.76 | -29.90 | -51.72 | 93.00 | 94.00 | 95.00 | 108 | -64.98 | -15.25 | 1.00 | 10.00 | 40.00 | -3.51 | -16.10 | -10.08 | -1.02 | -0.49 | 1.00 | -27.85 |
| Dividend Payments | 0.1% | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | 11.00 | 10.00 | 9.00 | 9.00 | 8.00 | 8.00 | 8.00 | 8.00 | 7.00 | 7.00 | 7.00 | 6.00 | 6.00 | 6.00 | 5.00 | 19.00 |
| Buy Backs | -0.2% | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | 4.00 | 6.00 | 9.00 | 18.00 | 5.00 | - | - | - | 2.00 | - | - |
MGPI Income Statement
2023-06-30CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2023 | Jun. 30, 2022 | Jun. 30, 2023 | Jun. 30, 2022 | |
| Income Statement [Abstract] | ||||
| Sales | $ 209,001 | $ 194,982 | $ 410,011 | $ 390,217 |
| Cost of sales | 132,706 | 135,758 | 263,892 | 259,172 |
| Gross profit | 76,295 | 59,224 | 146,119 | 131,045 |
| Advertising and promotion expenses | 8,639 | 6,065 | 16,372 | 11,569 |
| Selling, general, and administrative expenses | 23,513 | 17,853 | 44,045 | 34,090 |
| Operating income | 44,143 | 35,306 | 85,702 | 85,386 |
| Interest expense, net | (1,282) | (1,543) | (2,277) | (3,141) |
| Other income (expense), net | (93) | (1,062) | 30 | (1,008) |
| Income before income taxes | 42,768 | 32,701 | 83,455 | 81,237 |
| Income tax expense | 10,804 | 7,339 | 20,459 | 18,504 |
| Net income | 31,964 | 25,362 | 62,996 | 62,733 |
| Net loss attributable to noncontrolling interest | 162 | 198 | 201 | 264 |
| Net income attributable to MGP Ingredients, Inc. | 32,126 | 25,560 | 63,197 | 62,997 |
| Income attributable to participating securities, basic | (324) | (217) | (633) | (535) |
| Income attributable to participating securities, diluted | (324) | (217) | (633) | (535) |
| Net income used in earnings per common share calculation, basic | 31,802 | 25,343 | 62,564 | 62,462 |
| Net income used in earnings per common share calculation, diluted | $ 31,802 | $ 25,343 | $ 62,564 | $ 62,462 |
| Weighted average common shares | ||||
| Basic (in shares) | 22,062,142 | 22,002,385 | 22,051,244 | 21,995,779 |
| Diluted (in shares) | 22,139,663 | 22,002,385 | 22,106,113 | 21,995,779 |
| Earnings per common share | ||||
| Basic (in dollars per share) | $ 1.44 | $ 1.15 | $ 2.84 | $ 2.84 |
| Diluted (in dollars per share) | $ 1.44 | $ 1.15 | $ 2.83 | $ 2.84 |
MGPI Balance Sheet
2023-06-30CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Jun. 30, 2023 | Dec. 31, 2022 |
|---|---|---|
| Current Assets | ||
| Cash and cash equivalents | $ 21,959 | $ 47,889 |
| Receivables (less allowance for credit loss, $1,475 at both June 30, 2023, and December 31, 2022) | 147,570 | 109,267 |
| Inventory | 343,826 | 289,722 |
| Prepaid expenses | 5,177 | 2,957 |
| Refundable income taxes | 2,317 | 4,327 |
| Total current assets | 520,849 | 454,162 |
| Property, plant, and equipment | 475,472 | 450,800 |
| Less accumulated depreciation and amortization | (224,823) | (215,168) |
| Property, plant, and equipment, net | 250,649 | 235,632 |
| Operating lease right-of-use assets, net | 17,122 | 15,042 |
| Investment in joint ventures | 4,955 | 5,534 |
| Intangible assets, net | 271,440 | 216,768 |
| Goodwill | 325,713 | 226,294 |
| Other assets | 4,401 | 4,779 |
| Total assets | 1,395,129 | 1,158,211 |
| Current Liabilities | ||
| Current maturities of long-term debt | 6,400 | 5,600 |
| Accounts payable | 84,921 | 66,432 |
| Federal and state excise taxes payable | 5,946 | 4,627 |
| Accrued expenses and other | 21,384 | 28,716 |
| Total current liabilities | 118,651 | 105,375 |
| Long-term debt, less current maturities | 123,319 | 29,510 |
| Convertible senior notes | 195,385 | 195,225 |
| Long-term operating lease liabilities | 13,568 | 11,622 |
| Contingent consideration | 63,900 | 0 |
| Other noncurrent liabilities | 3,943 | 3,723 |
| Deferred income taxes | 69,241 | 67,112 |
| Total liabilities | 588,007 | 412,567 |
| Commitments and Contingencies (Note 8) | ||
| Capital stock | ||
| Preferred, 5% non-cumulative; $10 par value; authorized 1,000 shares; issued and outstanding 437 shares | 4 | 4 |
| Common stock | ||
| No par value; authorized 40,000,000 shares; issued 23,125,166 shares at June 30, 2023 and December 31, 2022; and 22,014,374 and 21,994,042 shares outstanding at June 30, 2023 and December 31, 2022, respectively | 6,715 | 6,715 |
| Additional paid-in capital | 322,267 | 318,839 |
| Retained earnings | 500,933 | 443,061 |
| Accumulated other comprehensive income (loss) | (169) | (304) |
| Treasury stock, at cost, 1,110,792 and 1,131,124 shares at June 30, 2023 and December 31, 2022, respectively | (21,347) | (21,591) |
| Total MGP Ingredients, Inc. stockholders’ equity | 808,403 | 746,724 |
| Noncontrolling interest | (1,281) | (1,080) |
| Total equity | 807,122 | 745,644 |
| Total liabilities and equity | $ 1,395,129 | $ 1,158,211 |
MGP Ingredients, Inc., together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products. This segment also provides fuel-grade alcohol for blending with gasoline; distillers feed and related co-products, such as distillers feed and corn oil; and warehouse services, including barrel put away, storage, and retrieval services, as well as blending services. The Branded Spirits segment provides ultra-premium, premium, mid, and value branded distilled spirits. The Ingredient Solutions segment provides specialty wheat starches for food applications under the Fibersym, Resistant Starch, and FiberRite RW Resistant Starch names; specialty wheat proteins for food applications under the Arise and Proterra names; gluten-free textured pea proteins; commodity wheat starch for food and non-food applications; and commodity wheat proteins. The company sells its products directly or through distributors to manufacturers and processors of finished packaged goods or to bakeries primarily in the United States, the United Kingdom, Japan, Thailand, Mexico, and Canada. MGP Ingredients, Inc. was founded in 1941 and is headquartered in Atchison, Kansas.