MGP Ingredients, Inc. stock analysis CASK.US

MGP Ingredients, Inc. primarily produces and sells distilled spirits - both its own branded lines and third-party contract ("private label") distilling - as well as food ingredients based on wheat-derived starches and proteins. Its Branded Spirits segment includes bourbon, rye whiskey, other American whiskeys, vodka, gin and tequila, spanning value through premium-plus tiers with brands such as Penelope, Yellowstone, Rebel, Blood Oath, Rossville Union, and Everclear. The Distilling Solutions segment supplies these distilled spirit types to other producers, in addition to food-grade alcohol, co-products like fuel-grade ethanol, and grains by-products.

In its Ingredient Solutions segment, the company converts wheat flour into commodity and specialty wheat starches, wheat proteins (including vital wheat gluten), fibers, and related functional food ingredients. These ingredients deliver nutritional, sensory, and functional properties (such as texture, protein content, and thickening) and are sold directly or via distributors to manufacturers of consumer packaged foods, baked goods, snacks, and other food processing applications. Co-products from its distillery operations include corn oil and distiller feeds.

MGP operates numerous manufacturing, distilling, bottling, and warehousing facilities in the United States and abroad. Its U.S. operations include primary production in Atchison, Kansas; Lawrenceburg and Greendale, Indiana; Bardstown and Lebanon, Kentucky; and others. It also has operations in Mexico and Northern Ireland. Its facilities are certified to global food safety standards such as BRC Global Standard for Food Safety (Grade AA).