MGP Ingredients Hires Industry Veterans to Drive Growth
MGP Ingredients has appointed four experienced professionals in an effort to boost growth across its Distilling Solutions and Branded Spirits segments. The new hires include Tom Neiheisel as vice president of sales for the Distilling Solutions segment, Sol Clahane as managing director of national accounts, Marilyn Chen as brand director for Penelope Bourbon, and David Sanders as vice president of financial planning & analysis. The move comes after a challenging period for MGP's Distilling Solutions division, which saw its second-quarter sales drop 42% year-on-year to $29.2 million. The segment has been under pressure due to reduced demand for aged whiskey and new distillate. In the same quarter, overall company revenue fell by 15%, with gross profit declining 20%. MGP reaffirmed its full-year sales guidance of between $480 million and $500 million. The appointments are intended to strengthen commercial operations, marketing capabilities, and financial planning across the business. CEO Julie Francis emphasized that these hires will help deepen customer relationships and accelerate growth in premium spirits.
Topics: distilling industry growth strategy hiring MGP Ingredients