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  "documentTitle": "MGP Ingredients, Inc. (MGPI)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2017-01-12 00:00:00",
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      "kind": "callout",
      "text": "In particular, having a liquor brand backed by a deep-pocketed billionaire, future president, or celebrity musician does not guarantee success.",
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      "text": "Building a nationally recognized and successful liquor brand is no small endeavor. There are plenty of examples of failures across all liquor categories. In particular, having a liquor brand backed by a deep-pocketed billionaire, future president, or celebrity musician does not guarantee success. In the table below, we illustrate examples of failed forays into branded spirits. We don't believe MGPI has fully articulated to investors how much it has spent, and will commit to spending, to market and grow its three brands.",
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      "kind": "table",
      "text": "Date/Source, Liquor, Celebrity Backer, Outcome. 2006-2011, Vodka, Donald Trump, Trump Vodka discontinued. 1994-2007, Virgin Vodka, Richard Branson, Failed. 2011-2012, Cream Liqueur, Pharrell Williams, Discontinued. 2002, Whiskey, Willie Nelson, Limited success.",
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      "kind": "title",
      "text": "Deep-Pocketed Investors and Celebrity Endorsement Don't Guarantee Success In The Branded Alcohol Business",
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