MGP Ingredients (MGPI) said Wednesday that certain shareholders plan to sell up to 4.9 million shares of MGP Ingredient's common stock.

The selling shareholders obtained these shares through a merger involving MGP Ingredients, London HoldCo, Luxco Group, and other affiliated entities, the company said.

The company will not receive any proceeds from the sale of these shares, it added.

Shares of MGP Ingredients were up over 1% in recent trading.

Price: 33.00, Change: +0.41, Percent Change: +1.26