News Briefs for November 1, 2019November 1, 2019
•MGP Ingredients posted a 6.4% decline in sales for its Distillery Products segment in its fiscal third quarter ended in September, as its premium beverage alcohol sales fell 10.5% to $42 million. President and CEO Gus Griffin said the decline was due to MGP’s customers working “though temporary excess inventory situations” and that new and returning customers are expected to bolster sales moving forward. While MGP saw a 4.3% increase in white spirits to $15.4 million, its brown spirits segment fell 17% to $26.7 million for the quarter. Gross profit for the company’s Distillery Products segment was down slightly to $15.9 million year-on-year.
•Folio Fine Wine Partners has added two French wine producers to its import portfolio. From Provence, Château Beaulieu offers two rosé wines—Provence Rosé ($20) and Cuvee Alexandré Rosé ($25)—which join Folio’s distribution network starting immediately. Elsewhere, Rhône-based winery Clos de L’Oratoire des Papes will see its Châteauneuf du Pape Rouge ($75), Châteauneuf du Pape Blanc ($75), and Châteauneuf du Pape Rouge Les Choregies ($150) imported by Folio effective January 1. Opici Wines previously handled Château Beaulieu in the U.S., while Bronco Wine managed Clos de l’Oratoire des Papes.Subscribe to Shanken News Daily’s Email Newsletter, delivered to your inbox each morning.