MGP Ingredients Appoints Julie Francis As Chief Executive Officer; Backs Annual Outlook

MGP Ingredients

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(RTTNews) - MGP Ingredients, Inc. (MGPI), a provider of branded and distilled spirits and food ingredient solutions, said on Monday that it has appointed Julie Francis as its Chief Executive Officer with effect from July 21.

Brandon Gall, who has served as Interim CEO since January 1, will continue to serve in his role as Chief Financial Officer. Gall was appointed as Interim CEO in addition to his CFO role after David Bratcher decided to step down as CEO last year.

Francis previously served as Chief Operating Officer of Schwan's Company, a producer of frozen foods. Prior to Schwan's, she worked as Senior Vice President of Commercial and Category Development for Constellation Brands' Total Beverage Alcohol platform.

In addition, the company has reaffirmed its annual outlook. MGP Ingredients still expects to register annual adjusted basic income per share of $2.45 to $2.75, with adjusted EBITDA of $105 million to $115 million, on sales of $520 million to $540 million.