Branded Spirits Acquisition of Penelope Bourbon
INGREDIENT SOLUTIONS
A LEADING SUPPLIER OF SPECIALTY WHEAT STARCHES & PROTEINS
2022 Total Revenue of $116MM
$14
$1
■Specialty Wheat Starches
$62
$39
Specialty Wheat Proteins ■Commodity Wheat Starches ■Commodity Wheat Proteins
Historical Gross Profit and Margin (%)
$22
$21
$32
$12
$11
26.7%
27.2%
24.5%
19.0%
16.2%
2018
2019
2020
2021
2022
18
All figures in millions
•
Products consist of the following:
MGP
Specialty Wheat Starches: Premium wheat starches sold
to food processors and distributors, a substantial portion of
which are modified for special applications such as
improving tastes and textures or improving the nutritional
profile
.
FibersymⓇ is expertly modified to add dietary fiber in
foods while reducing calories and net carbs on labels
Specialty Wheat Proteins: Derived from vital wheat gluten
for food applications; competes with other ingredients and
modified proteins, primarily soy protein
•
•
Proterra® is an emerging textured plant protein that
is a premium meat replacement solution
Arise® improves functional texture and softness in
baked goods while increasing protein content in foods
Commodity Wheat Starches: Non-specialized product
with non-food and food applications, which primarily
competes with corn starch
Commodity Wheat Proteins: Also known as vital wheat
gluten, this product represents a free-flowing light tan
powder, containing 70-80% protein, which is used by
bakeries and food processors to improve the nutritional
content, texture, strength, shape, and other aspects of their
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