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News Briefs for August 6, 2018

August 6, 2018

•MGP Ingredients saw net sales from contract spirits production rise 2.8% to $72.7 million in its second quarter ended in June. MGP president and CEO Gus Griffin said the company “experienced some temporary softness in the first half, as a few existing customers delayed or reduced orders due to having previously purchased adequate inventory to meet their near-term needs.” But MGP expects stronger sales for its premium American whiskies in the second half of the year, adding that it’s boosting investment in its barrel warehousing program and aged whiskey inventory to meet that demand. Within MGP’s branded business, the company noted that its recently launched Rossville Union Rye Whiskey has seen a positive response in the early going.

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