Profile: MGP Ingredients Inc (MGPI.O)
29 May 2015
MGP Ingredients, Inc., incorporated on October 18, 2011, is a holding company with no operations of its own. The Company’s principal directly-owned operating subsidiaries are MGPI Processing, Inc. and MGPI of Indiana, LLC (MGPI-I). The Company through its subsidiaries produces distillery and ingredient products, which are derived from corn, rye and barley, and wheat flour, primarily to serve the packaged goods industry. As of December 31, 2013, the Company had three reportable segments: distillery products, which produces food grade alcohol and distillery co-products, such as fuel grade alcohol and distillers feed; ingredient solutions, which produces specialty wheat starches, specialty wheat proteins, commodity wheat starch and vital wheat gluten, and others, which processes wheat proteins and wheat starches to produce eco-friendly products.
The distillery products segment consists of food grade alcohol, along with fuel grade alcohol and distillers feed, which are by-products of the Company's distillery operations. In the distillery segment, the Company has positioned to serve the major spirits marketers as well as the growing base of independent craft distillers. This means selling a mix of newly produced distillate and product aged in barrels.
In the ingredients segment, the Company benefits from health and wellness lifestyle trends in the food area. They also continue to concentrate on specific, highly functional ingredient solutions for the customers. The Company is concentrating production and marketing efforts on supplying a base of customers with ingredients that address nutritional, functional, sensory and convenience issues and that can help build value while making more efficient use of existing capacities.
The principal products in other segment consisted of MGPI Terratek biopolymers and composite resins. The MGPI Terratek starch-based biopolymers were biopolymers that can be molded to produce a variety of formed objects. The applications include disposable eating utensils, golf tees, food and feed containers and similar type vessels, as well as non-degradable hard plastic-like products. The Company also produced MGPI Terratek WC wood-based composite resins, which can be used in the manufacture of eco-friendly decking materials, furniture parts, toys and a number of other wood-like products.
MGP Ingredients Inc
PO Box 111
LANCASTER KS 66041