MGP Ingredients creates new holding company
Jan. 4, 2012
by Eric Schroeder
ATCHISON, KAS. — MGP Ingredients, Inc. has created a new holding company structure, but the company said its business operations and those of its subsidiaries will not change as a result of the reorganization.
As part of the reorganization, outstanding shares of the capital stock of the former parent company, which formerly was named MGP Ingredients, Inc. and now is named MGPI Processing, Inc., were converted automatically, 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,” MGPI said. “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.”
Founded in 1941, MGP Ingredients, Inc. develops and produces value-added, grain-based starches, proteins and food grade alcohol products for the branded packaged goods industry. The company has facilities in Atchison and Onaga, Kas.