MGPI forms new holding company

by World Grain Staff
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ATCHISON, KANSAS, U.S. — MGP Ingredients, Inc. (MGPI) announced on Jan. 3 that it has reorganized by creating a new holding company structure. The business operations of the company, and its subsidiaries will not change as a result of the reorganization.

As part of the holding company reorganization, a new parent company was formed. Outstanding shares of the capital stock of the former parent company, which was formerly named MGP Ingredients, Inc. and is now named MGPI Processing, Inc., were automatically converted, on a share for share basis, into identical shares of common stock and preferred stock of the new holding company. The new parent company is named MGP Ingredients, Inc.

The articles of incorporation, the bylaws, the executive officers and the board of directors of the new holding company are the same as those of the former MGP Ingredients, Inc. in effect immediately prior to the reorganization.

The common stock of the new holding company will continue to be listed on the NASDAQ Global Select Market under the symbol “MGPI.” The rights, privileges and interests of the company’s stockholders will remain the same with respect to the new holding company.

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