MGP Ingredients, Inc. (MGPI), a producer of distilled spirits, branded spirits, and food ingredient solutions, announced on Thursday that its Board has authorized repurchase of up to $100 million of its outstanding shares of common stock.
The Company mentioned that it may repurchase shares through different methods as per laws and requirements. The timing and amount of repurchases will be subject to market conditions and other factors.
Additionally, the authorization has no expiration date and is subject to change at any time.
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