STOCK TITAN

MGP Names New Distilling Solutions Vice President

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
Rhea-AI Summary

MGP Ingredients, Inc. (MGPI: Nasdaq) has appointed Paul Lux as Vice President of Sales for the Distilling Solutions segment, effective immediately. Lux, an industry veteran, brings extensive experience in beverage alcohol business to the role. He will work closely with Amel Pasagic, Chief Commercial Officer, to execute MGP's strategy for the segment.

Positive
  • Paul Lux brings a wealth of experience in the beverage alcohol business to MGP Ingredients, Inc.
  • Lux's appointment as Vice President of Sales signals a strengthened leadership team at MGP Distilling Solutions segment.
Negative
  • None.

Industry veteran Paul Lux joins company to continue execution of strategy for the segment

ATCHISON, Kan., May 06, 2024 (GLOBE NEWSWIRE) -- MGP Ingredients, Inc., (MGPI: Nasdaq), a leading producer of branded and distilled spirits as well as food ingredient solutions, has named Paul Lux as Vice President of Sales for the Distilling Solutions segment, effective today. Lux will work closely with Amel Pasagic, Chief Commercial Officer, on the continued execution of MGP’s strategy for the Distilling Solutions segment.

“Paul knows how we operate, both from his time as part of the Luxco leadership team and his years working with MGP as a valuable outside partner at Meier’s,” Pasagic said. “We’re excited about the perspective and experience he brings to this role.”

Lux is well-versed in all aspects of the beverage alcohol business, having served as President of Meier’s Beverage Group since 2013. Prior to that, he was Director of Strategic Development at Luxco, Inc., after working as a State Sales Manager and then Supply Chain Manager. Additionally, Lux served as Vice President of Sales and Marketing at Meier’s Wine Cellars, Inc. He began his beverage alcohol career with Glazer’s Wholesale Distributors in 2007, hired by E.J. Gallo Winery as part of their Sales Leadership Development Program.

“Paul has a wealth of experience in the industry, business development, sales management, and strategic planning,” said CEO and President David Bratcher. “We are thrilled to announce his hiring and look forward to his leadership in our largest business segment.”

Lux earned a Bachelor of Science in Marketing and General Management from Tulane University; a Master of Science in Finance from Tulane University; and an MBA in Management and Operations from Washington University in St. Louis, Missouri.

About MGP
MGP Ingredients, Inc. (Nasdaq: MGPI) is a leading producer of premium branded and distilled spirits, as well as 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 the U.S., MGP’s 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. With distilleries in Kentucky and Indiana, and bottling operations in Missouri, Ohio, and Northern Ireland, MGP has the infrastructure and expertise to create on any scale.

MGP’s branded spirits portfolio covers a wide spectrum of brands in every segment, including iconic brands from Luxco, which was founded in 1958 by the Lux Family. Luxco is 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. Luxco’s award-winning spirits portfolio includes well-known brands from four distilleries: Bardstown, Kentucky-based Lux Row Distillers, home of Ezra Brooks, Rebel, Blood Oath, David Nicholson, and Daviess County; Lebanon, Kentucky-based Limestone Branch Distillery, maker of Yellowstone Kentucky Straight Bourbon Whiskey, Minor Case Straight Rye Whiskey, and Bowling & Burch Gin; Jalisco, Mexico-based Destiladora Gonzalez Lux, producer of 100% agave tequilas, El Mayor, Exotico, and Dos Primos; and the historic Ross & Squibb Distillery in Lawrenceburg, Indiana, where Penelope Bourbon, Remus Straight Bourbon Whiskey, and Rossville Union Straight Rye Whiskey are produced. The innovative and high-quality brand portfolio also includes Everclear Grain Alcohol, Pearl Vodka, Green Hat Gin, Saint Brendan’s Irish 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. We’re devoted to unlocking the creative potential of this extraordinary resource. For more information, visit mgpingredients.com.

Media Contact: Patrick Barry, 314.540.3865, patrick@byrnepr.net
Investor Contact: Mike Houston, 646.475.2998, investor.relations@mgpingredients.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e2c5706d-2d84-493d-9e67-96992ebb8dd2


FAQ

Who has been named the Vice President of Sales for the Distilling Solutions segment at MGP Ingredients, Inc.?

Paul Lux has been named the Vice President of Sales for the Distilling Solutions segment at MGP Ingredients, Inc.

When did Paul Lux start his role as Vice President of Sales at MGP Ingredients, Inc.?

Paul Lux started his role as Vice President of Sales at MGP Ingredients, Inc. on May 6, 2024.

What is the stock symbol for MGP Ingredients, Inc.?

The stock symbol for MGP Ingredients, Inc. is MGPI.

What is Paul Lux's background in the beverage alcohol business?

Paul Lux has a Bachelor of Science in Marketing and General Management, a Master of Science in Finance, and an MBA in Management and Operations. He has held various leadership roles in the industry.

Who will Paul Lux work closely with in his new role at MGP Ingredients, Inc.?

Paul Lux will work closely with Amel Pasagic, Chief Commercial Officer, in executing MGP's strategy for the Distilling Solutions segment.

MGP Ingredients Inc

NASDAQ:MGPI

MGPI Rankings

MGPI Latest News

MGPI Stock Data

882.74M
14.15M
35.53%
79.68%
18.16%
Beverages - Wineries & Distilleries
Wholesale-beer, Wine & Distilled Alcoholic Beverages
Link
United States of America
ATCHISON