Sempreon CASK

MGP Ingredients, Inc. is a leading producer of branded and distilled spirits as well as food ingredient solutions. The company operates through distilleries and bottling facilities to create a diverse portfolio of spirits and processes grains and wheat to manufacture specialty and commodity ingredients for the food industry.

MGP Ingredients generates revenue through the sale of its branded spirits products to distributors and state governments, the provision of distillate and related services such as barreling and warehousing to beverage alcohol producers, and the sale of specialty and commodity wheat starches and proteins to food processors, manufacturers, and bakeries. The company serves a broad customer base across the alcohol and food ingredients sectors.

The company operates through the following segments: Branded Spirits, Distilling Solutions, and Ingredient Solutions.

• The Branded Spirits segment consists of a portfolio of high-quality brands produced through company distilleries and bottling facilities and sold to distributors or state governments that control alcohol sales. This segment includes brands across price tiers such as premium plus (including Penelope Bourbon, Yellowstone Bourbon, and Ezra Brooks Bourbon), mid-tier (including Brady’s Irish Cream and Pearl Vodka), value (including Arrow Cordials and Canada House Canadian Whisky), and other (including private label products and contract bottling services).
• The Distilling Solutions segment processes corn and other grains into food grade alcohol and distillery co-products such as distillers feed. It also provides warehouse services including barrel storage and retrieval, barrel put away, and blending services, with contracts ranging from spot market to multi-year terms.
• The Ingredient Solutions segment consists primarily of specialty wheat starches, specialty wheat proteins, commodity wheat starches, and commodity wheat protein products sold pursuant to purchase orders. Specialty offerings include Fibersym resistant wheat starch and Arise brand wheat proteins, while commodity products include vital wheat gluten used in baking and food processing applications.

MGP Ingredients holds a strong position in its industries due to its integrated production capabilities, extensive brand portfolio, and focus on high-margin specialty ingredients. In the branded spirits space, it competes based on product innovation, brand recognition, distribution, and quality. In distilling solutions, competition centers on product characteristics, service, and functionality. In ingredient solutions, differentiation is driven by product innovation, functionality, and brand reputation for non-GMO and clean label ingredients.

The company serves distributors and state control agencies in the Branded Spirits segment, beverage alcohol manufacturers in the Distilling Solutions segment, and food processors, bakeries, and tortilla producers in the Ingredient Solutions segment. During 2025, the five largest customers in each segment accounted for approximately 25%, 17%, and 17% of consolidated sales respectively, with one Branded Spirits customer representing 16% and one Ingredient Solutions customer representing 14% of total sales.