MGP Ingredients appoints Julie Francis as new CEO

ATCHISON, Kan. - MGP Ingredients, Inc. (NASDAQ:MGPI), a spirits and food ingredients company with a market capitalization of $639 million, announced Monday the appointment of Julie Francis as President and Chief Executive Officer, effective immediately. The appointment comes as the company’s stock has declined roughly 62% over the past year, though InvestingPro analysis suggests the stock is currently undervalued.

Francis brings over 30 years of leadership experience in the food and beverage industries, previously serving as Chief Operating Officer at Schwan’s Company and holding senior positions at Constellation Brands and The Coca-Cola Company.

Brandon Gall, who has served as Interim President and CEO since January 1, 2025, will return to his role as Chief Financial Officer.

"Julie is a proven leader with decades of experience driving growth and value creation across the food and beverage space, making her the ideal candidate to lead MGP forward," said Martin Roper, Chairman of the Board, in a press release statement.

Francis is expected to join the company’s Board of Directors at the 2026 Annual Meeting of Stockholders.

"MGP’s strong foundation, built on a legacy of quality, operational excellence, and a portfolio of attractive alcoholic spirits brands, is a true credit to this talented team," Francis stated.

The company, which produces branded spirits and food ingredient solutions, reaffirmed its consolidated fiscal 2025 sales, adjusted EBITDA, and adjusted basic EPS guidance that was previously confirmed in its May 1 earnings release.

MGP Ingredients operates distilleries in Indiana and Kentucky, a tequila distillery joint venture in Mexico, and bottling operations in Missouri, Ohio, and Northern Ireland. Its portfolio includes bourbon brands Penelope, Rebel, Remus, and Yellowstone, as well as El Mayor tequila.

In other recent news, MGP Ingredients Inc. reported mixed financial results for the first quarter of 2025. The company missed earnings per share (EPS) expectations with a reported EPS of $0.36, falling short of the anticipated $0.38. However, MGP Ingredients exceeded revenue forecasts, achieving $121.7 million compared to the expected $119.82 million. Despite these mixed results, the company reaffirmed its 2025 guidance, projecting net sales between $520 million and $540 million. In other developments, MGP Ingredients appointed Martin Roper as the new Chairman of the Board, effective May 22, 2025. Roper’s extensive experience in the beverage industry is anticipated to support the company’s strategic initiatives. Additionally, Rebel Bourbon, a product of MGP Ingredients, announced the release of its annual Rebel 10-Year Single Barrel Bourbon. This limited edition bourbon will be available in select quantities, further highlighting MGP Ingredients’ focus on premium branded spirits.

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