MGP Ingredients, Inc. announces an Equity Buyback for $100 million worth of its shares.
February 29, 2024 at 08:30 am EST
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MGP Ingredients, Inc. (NasdaqGS:MGPI) announces a share repurchase program. Under the program, the company will repurchase up to $100 million worth of its shares. The authorization has no expiration date and may be modified, suspended, or discontinued at any time.
MGP Ingredients, Inc. is a producer and supplier of distilled spirits, branded spirits, and food ingredients. The Company operates through three segments: Distilling Solutions, Branded Spirits, and Ingredient Solutions. The Distilling Solutions segment consists of food grade alcohol and distillery co-products, such as distillers feed, fuel grade alcohol, and corn oil. This segment also includes warehouse services, including barrel put away, storage, and retrieval services, as well as blending services. The Branded Spirits segment consists of a portfolio of high-quality brands, which it produces through its distilleries and bottling facilities and sell to distributors pursuant to customer contracts and purchase orders. Its Ingredient Solutions segment consists primarily of specialty wheat starches, specialty wheat proteins, commodity wheat starches, and commodity wheat proteins. It is also a producer of industrial alcohol for use in both food and non-food applications.
MGP INGREDIENTS, INC. 
