MGP Ingredients, Inc. Concludes Review of Strategic Alternatives
11 Nov 2013 --- MGP Ingredients, Inc. has announced that the Special Committee of MGP's Board of Directors has concluded its previously announced review of the Company's strategic alternatives. The Special Committee has determined the best approach at this time to enhance long-term shareholder value is to continue execution of the Company's strategic plan to reposition the business for profitable growth.
John R. Speirs, Chairman of MGP commented, "After a thorough review, it became clear that the best path to create value for shareholders was to build momentum with MGP's current strategy. We will strive toward stronger cash flows from our bulk industrial alcohol business, while increasing the percentage of sales derived from higher margin premium spirits and specialty food ingredients."
MGP is a leading independent supplier of premium spirits, offering flavor innovations and custom distillery blends to the beverage alcohol industry. The Company also produces high quality food grade industrial alcohol and formulates grain-based starches and proteins into nutritional, as well as highly functional, innovations for the branded consumer packaged goods industry. Distilled spirits are produced at facilities in the adjacent towns of Lawrenceburg and Greendale, Indiana. The Company is headquartered in Atchison, Kansas, where a variety of distilled alcohol products and food ingredients are manufactured.
