GlobeNewswire Inc | Jul 13, 2021 08:32AM EDT

July 13, 2021

ATCHISON, Kan., July 13, 2021 (GLOBE NEWSWIRE) -- MGPIngredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, is pleased to announce that David Bratcher has been appointed as Chief Operating Officer. Mr. Bratcher recently joined MGP as President, Brands in connection with MGPs acquisition of Luxco, Inc. and its affiliated companies, a leading branded beverage alcohol company.

Prior to the acquisition, Bratcher served in a steady progression of leadership roles for over 20 years at Luxco, including serving as President and Chief Operating Officer since 2013. Bratcher was instrumental in supporting Luxcos growth in those positions. In his new role, Bratcher will continue to report directly to Dave Colo, President and CEO, and will assist Colo with the management of the overall MGP business.

Since joining MGP, David has been key to integrating the Luxco acquisition and has demonstrated the ability to continue to execute our strategic evolution, said Colo. David is a proven leader who has played a significant role in Luxcos success. Having him in this role to drive the continued integration of Luxco and other key initiatives will help ensure we execute our long-term strategies.

Before joining Luxco, Bratcher served in financial and operational roles for a number of consumer product companies, including serving five years as Controller and then Director of Operations for the international spirits company Allied Domecq, the second-largest spirits company in the world at the time.Bratcher received his bachelors degree in business administration and management from the University of the Ozarks in Clarksville, Arkansas. He earned his masters degree in business administration and his doctorate in management and business administration from Webster University in Webster Groves, Missouri.

About MGP Ingredients, Inc.

MGP Ingredients, Inc.(Nasdaq: MGPI) is a leading producer of premium distilled spirits, branded spirits, and food ingredient solutions. Since 1941, we have combined our expertise and energy aimed at formulating excellence, bringing product ideas to life collaboratively with our customers.

As one of the largest distillers in theU.S., MGPs offerings include bourbon and rye whiskeys, gins, and vodkas, which are created at the intersection of science and imagination, for customers of all sizes, from crafts to multinational brands. WithU.S.distilleries inKentucky,Indiana,Kansas, andWashington D.C., and bottling operations inMissouri,Ohio, andNorthern Ireland, MGP has the infrastructure and expertise to create on any scale.

MGPs branded spirits portfolio covers a wide spectrum of brands in every segment, including iconic brands fromLuxco, which was founded in 1958 by the Lux Family.Luxcois a leading producer, supplier, importer and bottler of beverage alcohol products. Our branded spirits mission is to meet the needs and exceed the expectations of consumers, associates and business partners. Luxcos award-winning spirits portfolio includes well-known brands from five distilleries:Bardstown, Kentucky-based Lux Row Distillers, home ofEzra Brooks, Rebel, Blood Oath,David NicholsonandDaviess County;Lebanon, Kentucky-basedLimestone Branch Distillery, maker of Yellowstone Kentucky Straight Bourbon Whiskey, Minor Case Straight Rye Whiskey and Bowling &Burch Gin;Jalisco, Mexico-based Destiladora Gonzlez Lux, producer of 100% agave tequilas, El Mayor, Exotico and Dos Primos; MGPs historic distillery inLawrenceburg, Indiana, where the George Remus Straight Bourbon Whiskey and Rossville Union Straight Rye Whiskey are produced; and theWashington, D.C.-basedGreen Hat Distillery, producer of the Green Hat family of gins. The innovative and high-quality brand portfolio also includes Everclear Grain Alcohol, Pearl Vodka, Saint BrendansIrish Cream, The Quiet Man Irish Whiskey and other well-recognized brands.

In addition, our Ingredient Solutions segment offers specialty proteins and starches that help customers harness the power of plants and provide a host of functional, nutritional and sensory benefits for a wide range of food products.

The transformation of American grain into something more is in the soul of our people, products, and history. Were devoted to unlocking the creative potential of this extraordinary resource. For more information, visitmgpingredients.com.

Cautionary Note Regarding Forward-Looking StatementsThe forward-looking statements contained herein include, but are not limited to, statements about the expected effects onMGP Ingredients, Inc.("the Company") of the recent acquisition ofLuxco, Inc.and its affiliates ("Luxco"), anticipated earnings enhancements, synergies and other strategic options. Forward looking statements are usually identified by or are associated with such words as intend, plan, believe, estimate, expect, anticipate, hopeful, should, may, will, could, encouraged, opportunities, potential, and/or the negatives or variations of these terms or similar terminology.

These forward-looking statements reflect managements current beliefs and estimates of future economic circumstances, industry conditions, Company performance, and Company financial results and financial condition and are not guarantees of future performance. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, among others: (i) the ability to realize the anticipated benefits of the acquisition ofLuxco; (ii) the ability to successfully integrate the businesses; (iii) disruption from the acquisition ofLuxcomaking it more difficult to maintain business and operational relationships; and (iv) significant transaction costs and unknown liabilities. Additional factors that could cause results to differ materially include, among others, (i) disruptions in operations at ourAtchisonfacility, ourLawrenceburgfacility, or anyLuxcofacility, (ii) the availability and cost of grain, flour, and agave, and fluctuations in energy costs, (iii) the effectiveness of our grain purchasing program to mitigate our exposure to commodity price fluctuations, (iv) the effectiveness or execution of our strategic plan, (v) potential adverse effects to operations and our system of internal controls related to the loss of key management personnel, (vi) the competitive environment and related market conditions, (vii) the impact of the COVID-19 pandemic, (viii) the ability to effectively pass raw material price increases on to customers, (ix) our ability to maintain compliance with all applicable loan agreement covenants, (x) our ability to realize operating efficiencies, (xi) actions of governments, and (xii) consumer tastes and preferences. For further information on these and other risks and uncertainties that may affect our business, including risks specific to our Distillery Products and Ingredient Solutions segments, see Item 1A. Risk Factors of our Annual Report on Form 10-K for the year endedDecember 31, 2020and our Quarterly Report on Form 10-Q for the quarter endedMarch 31, 2021.

For More InformationInvestors & Analysts:Mike Houston646-475-2998or investor.relations@mgpingredients.com

Media:Greg Manis913-360-5440 or greg.manis@mgpingredients.com