MGP’s Branded Stable Up 11% In Q2

MGP Ingredients saw a double-digit increase in its branded spirits business drive solid second-quarter growth for the company. Overall, sales grew 7% on an organic basis to $191 million in the second quarter through June, with adjusted EBITDA climbing 7% to $58 million. That’s excluding the closure of the company’s Atchison, Kansas, facility—including the closure, sales fell 9%. For its full fiscal year, MGP projects sales between $742 million to $756 million.

Within MGP’s branded spirits stable, premium-plus labels drove an 11% increase to $64 million, with gross profit jumping 29% to $34 million. The brand portfolio, housed under the Luxco banner, 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.

“Our increasing investments behind our key brands and exciting new product innovation continue to yield positive results, helping us expand our distribution footprint and accelerate our transition into a premier branded spirits company,” said David Bratcher, president and CEO.—Shane English

Tagged : Blood Oath, El Mayor, Exotico, Ezra Brooks, MGP, Rebel

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