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  "docSlug": "c4de14509091",
  "documentTitle": "MGP Ingredients, Inc. (MGPI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2017-01-12 00:00:00",
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  "pageNumber": 31,
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  "notes": "Includes a screenshot of a Signature Spirits price sheet and a callout box highlighting specific distillate prices.",
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      "text": "Signature Spirits Distillate Program price sheet",
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      "text": "Rye Distillate (95% Rye, 5% Malted Barley): 135 Proof, $14.25/gallon\n100% Corn Distillate: 150 Proof, $13.79/gallon\nBourbon Distillate (75% Corn, 21% Rye and 4% Malted Barley): 135 Proof, $11.68/gallon",
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      "text": "Most of MGPI's whiskey and bourbon sales are white-label, and go through the bulk wholesale market. We contacted Ultra Pure the #1 U.S. based bulk alcohol supplier which we believe acts as a broker that purchases supply from distillers such as MGPI, and resells to other industry participants. What we found via our research is that prices are virtually unchanged in over two years.",
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      "text": "Source: Ultra Pure",
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      "kind": "source-note",
      "text": "Source: Straightbourbon.com",
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      "text": "MGPI Has Virtually No Pricing Power",
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