ATCHISON, KAN. — MGP Ingredients, Inc. has named David Bratcher president and chief executive officer, effective Jan. 1, 2024. He will succeed David Colo, who will retire from his role as president and CEO of MGPI on Dec. 31. The company’s board of directors also has named Mr. Bratcher for election as a Class B director, effective Jan. 1, 2024 (subject to preferred stockholder approval).
Mr. Bratcher was previously the president and chief operating officer of Branded Spirits after its parent company Luxco, Inc. merged with MGPI in 2021, working with the latter’s management team to oversee its overall business as well as its extensive Branded Spirits portfolio. Prior to the Luxco merger, Mr. Bratcher held several leadership positions at the company since 1998, most recently as its president since 2013. Mr. Bratcher also had financial and operational roles at many consumer product companies, including spirits company Allied Domecq, which was the second-largest spirits company in the world at the time, MGPI noted.
“…the board unanimously agreed that David Bratcher was well suited to lead MGP,” said Karen Seaberg, board chairman of MGPI. “Our deliberate succession planning process has enabled us to ensure a seamless transition. The board is confident that David’s leadership will positively impact our employees, customers, and stockholders into the future.”
Mr. Colo joined MGPI as president and COO in late March 2020. As part of the succession plan, Mr. Colo also will resign from the company’s board of directors, effective Dec. 31. Mr. Colo will remain with MGPI in an advisory role through April 2024 to facilitate a smooth transition, the company said.