Midwest Grain Products is now MGP Ingredients. The name change took effect yesterday [Thursday] at the close of the company’s annual meeting of stockholders.
As of today, the company’s ticker symbol on the NASDAQ National Market has become MGPI, replacing the former symbol, MWGP.
Discussing underlying reasons for the name change, president and CEO Ladd Seaberg said: “The markets we serve have expanded in scope. As more of our customers serve an increasingly sophisticated consumer base, we have strengthened our focus to meet their needs through the development, production and marketing of several fascinating lines of specialty proteins and starches. This re-branding really serves to reinforce our strategic emphasis on being a premier supplier of specialty ingredient solutions to our customers who produce food, personal care and pet products.”
The company also made a number of branding-related changes, including a new corporate logo and revised company graphics. A new corporate website address, www.mgpingredients.com, was also unveiled. Along with the corporate name change, the company’s wholly-owned subsidiary in Pekin, Illinois, Midwest Grain Products of Illinois, is now operating as MGP Ingredients of Illinois.