GlobeNewswire Inc | Jul 15, 2021 04:17PM EDT

July 15, 2021

ATCHISON, Kan., July 15, 2021 (GLOBE NEWSWIRE) -- MGPIngredients, Inc. (Nasdaq:MGPI), a leading provider of distilled spirits, branded spirits, and food ingredient solutions, is pleased to announce that Amel Pasagic, has been appointed to the newly-created position of Chief Information Officer. Mr. Pasagic recently joined MGP as Vice President, IT in connection with MGPs acquisition of Luxco, Inc. and its affiliated companies, a leading branded beverage alcohol company.

Prior to the acquisition, Pasagic served in a variety of IT leadership roles while at Luxco for 10 years. In his new role, Pasagic will report directly to Dave Colo, President and CEO and will have responsibility for the Companys overall IT strategy and organization.

Given the increased size and complexity of MGP following the transformative acquisition of Luxco, we determined this new role would be a critical component to the Companys long-term success, said Dave Colo, President and CEO of MGP Ingredients. Amel has a very strong understanding of the essential areas of information technology, and what sets him apart is his business acumen and ability to translate data into actionable business intelligence for the organization.

Before joining Luxco, Pasagic served in a variety of consulting roles across multiple business lines within healthcare, manufacturing and financial services while working for Alliance Systems and Programming. Pasagic received both his bachelors and masters degrees in computer science from Webster University. Pasagic continues his passion for education as an adjunct professor for Webster University.

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