Distilled spirits and specialty food products company MGP Ingredients hired David Colyott as EVP of operations to replace Steve Glaser, who will retire next month, the company announced last week.
Colyott most recently served as VP of the supply chain center of excellence at Mars Petcare, the company behind pet food brands like Pedigree and candy products such as M&M’s and Snickers. The more than 30-year supply chain management veteran also spent a decade with Nestlé Waters North America as supply chain director, following supply chain leadership roles at Ryder and Home Depot.
"His deep experience in rapidly evolving global supply chain environments and proven leadership credentials are a great fit for MGP as we continue to execute our long-term strategy of transitioning into a branded spirits company,” said MGP Ingredients President and CEO David Bratcher.
Glaser is retiring after 13 years with the company, having served as corporate director of operations since 2014 and VP of production and engineering since 2015.
Just as it changes its operations leadership, MGP Ingredients is also shifting its product strategy. The owner of multiple spirits brands, including Penelope Bourbon and Dos Primos Tequila, the company reported a 15% year-over-year decline sales in Q1 2024.
The decline was driven primarily by the December 2023 closure of the company’s distillery in Atchison, Kansas, MGP Ingredients VP of Finance and CFO Brandon Gall told analysts in a Q1 2024 earnings call. The decision was made as the company continues to focus more on brown spirits and its Premium Plus brands, according to Bratcher.
Despite a transitional Q1, the company “remains focused on growing points of distribution” for its branded spirits, Bratcher said during the call, noting that it began shipping Penelope Bourbon into two new states during the quarter.
