Brief: MGP Ingredients To Incur One-Time Aggregate Pre-Tax Charges For Closure Of Atchison Distillery

MGP Ingredients

13/07/2023 13:52

July 13 (Reuters) - MGP Ingredients Inc  MGPI.O :
    * MGP INGREDIENTS: SEES TO INCUR ONE-TIME AGGREGATE PRE-TAX
CHARGES OF ABOUT $23.0 - $31.0 MILLION IN 2023 IN CONNECTION
WITH CLOSURE OF ATCHISON DISTILLERY
    * MGP INGREDIENTS - EXPECTS TO INCUR ABOUT $4.0 - $6.0
MILLION IN
CAPEX IN CONNECTION WITH DECOUPLING ATCHISON DISTILLERY FROM
INGREDIENT SOLUTIONS FACILITY
    * MGP INGREDIENTS INC - CLOSURE OF ATCHISON DISTILLERY IS
EXPECTED
TO REDUCE COMPANY'S CONSOLIDATED NET SALES IN 2024 AS COMPARED
TO PRIOR PERIODS
    * MGP INGREDIENTS INC -  CLOSURE OF ATCHISON DISTILLERY IS
EXPECTED TO BE ACCRETIVE TO CONSOLIDATED GROSS MARGIN PERCENTAGE
BEGINNING IN 2024

Further company coverage:  MGPI.O 

 ((Reuters.Briefs@thomsonreuters.com;))