MGP’s Premium Brands Rise In Q1

American whiskey player MGP Ingredients saw sales roughly flat with the previous year on an organic basis in the first quarter at $171 million, as premium labels rose within its branded stable, partially offsetting declines in lower price tiers. For its full fiscal year, the company is targeting sales between $742 million and $756 million.

Overall, MGP’s branded business dipped 12% to $50 million in the first quarter “due to expected sales declines in mid and value price tier brands,” according to the company, while its premium labels increased by double-digits.

“Within our Branded Spirits segment, we remain confident in our premiumization strategy, as we saw continued sales growth in our premium-plus portfolio, which was up 12% year over year,” noted MGP president and CEO David Bratcher.

MGP’s branded portfolio, housed within its Luxco unit, includes labels such as Ezra Brooks, Rebel, Blood Oath, David Nicholson, Daviess County, Yellowstone Kentucky Straight Bourbon Whiskey, Penelope Bourbon, Remus Straight Bourbon Whiskey, and Rossville Union Straight Rye Whiskey, as well as El Mayor, Exotico, and Dos Primos Tequilas, among others.—Daniel Marsteller

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