This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

MGP Ingredients Sells Kansas Plant To Sergeant's

ATCHISON, Kan. (AP) ¿ MGP Ingredients Inc. said Monday it has completed the sale of its Kansas City, Kan., plant to Sergeant's Pet Care Products Inc. for an initial payment of $3.6 million.

The sale, completed on Friday, allows for additional payments depending on future earnings, said MGP, a maker of grain-based ingredients and alcohol products for the branded packaged goods industry.

The sale includes all equipment used to produce and package pet-related products at the 27-acre site, including extruded plant-based resins and pet treats.

MGP Ingredients will keep equipment at the plant used to produce the company's Wheatex textured wheat proteins, which can be used as a meat substitute geared toward vegetarians.

Tim Newkirk, president and CEO of Atchison, Kan.-based MGP Ingredients, said the sale of the plant is part of a strategy to focus on the company's core business areas.

Bob Scharf, CEO of Omaha, Neb.-based Sergeant's Pet Care, said the purchase allows his company to expand production of pet treats and meet increasing consumer demand.

Shares of MGP Ingredients fell 1 cent to $4.12 in midday trading.
Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
MGPI $21.87 1.70%
AAPL $95.48 0.52%
FB $102.82 3.30%
GOOG $691.81 2.00%
TSLA $149.02 0.52%


Chart of I:DJI
DOW 16,065.81 +51.43 0.32%
S&P 500 1,862.71 +10.50 0.57%
NASDAQ 4,314.62 +45.8570 1.07%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs