Business
MGP Ingredients Announces Temporary Idling of Operations at Two Kentucky Distilling Facilities
Reaffirms full year 2026 financial outlook ATCHISON, Kan.--(BUSINESS WIRE)-- MGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of branded and
About this update from Mgp Ingredients, Inc.
[{"type":"text","content":"\nReaffirms full year 2026 financial outlook\n\n\n ATCHISON, Kan.--(BUSINESS WIRE)--\nMGP Ingredients, Inc. (Nasdaq: MGPI), a leading provider of branded and distilled spirits and food ingredient solutions, today announced plans to temporarily idle distilling operations at its Limestone Branch Distillery in Lebanon, Kentucky and Lux Row Distillers in Bardstown, Kentucky, as the company adjusts production levels to align with its current inventory levels.\n\n\nMGP will continue distilling operations at its largest facility in Lawrenceburg, Indiana, to support its brands, clients, and customers.\n\n\nThe temporary idling will take effect on May 1, 2026. MGP expects to resume distilling operations when inventory levels support additional production, which could be as early as 12 months after that date. The decision will affect 33 employees across the two facilities. MGP is working directly with those impacted to support them through the transition.\n\n\nOther operations, including warehousing, bottling and barrel programs, will continue. The visitor centers at both distilleries will also remain open and continue to offer their full complement of immersive experiences that includes tours, tastings, retail offerings, limited release bottles and on-site engagements.\n\n\n“The American whiskey market continues to be structurally oversupplied, with excess capacity and elevated inventory. Like many companies across the industry, we are navigating a challenging environment and taking steps to better align our operations with current inventory levels while supporting our efficiency and productivity goals,” said Julie Francis, president and CEO of MGP Ingredients. “As a result, we have made the difficult decision to temporarily idle distilling operations at these two facilities. This decision was not made lightly. We are grateful for the contributions of our teams, committed to supporting those impacted, and remain confident these distilleries will continue to play an important role in our business in the future.”\n\n\nThe temporary idling is not expected to impact the availability of MGP’s products or services to clients or customers.\n\n\nThe company reaffirms its consolidated 2026 sales, adjusted EBITDA, and adjusted basic EPS guidance announced in its earnings press release issued on February 25, 2026.\n\n\nAbout MGP Ingredients, Inc.\n...