Business
John B. Sanfilippo & Son, Inc. Announces Acquisition of Just the Cheese Brand
ELGIN, Ill.--(BUSINESS WIRE)-- John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced that it has purchased substantially all of the
About this update from John B. Sanfilippo & Son, Inc.
[{"type":"text","content":" ELGIN, Ill.--(BUSINESS WIRE)--\nJohn B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced that it has purchased substantially all of the assets of the Just the Cheese brand business from Specialty Cheese Company, Inc. The acquisition was funded through the Company’s existing bank credit facility.\n\nJust the Cheese is one of the nation’s leading baked cheese snacking brands and offers 100% real cheese snack bars and cheese crisps. It primarily competes in the baked cheese snack category, which is currently estimated to be a $100M category. Just the Cheese products can be found online and in a variety of retail outlets in flavors like Aged Cheddar and Grilled Cheese.\n\n“The acquisition of Just the Cheese, which currently will not have a significant impact on our financial results, will provide us a product that expands our portfolio into new snacking categories. Additionally, the assets and capabilities acquired will be complimentary to our existing product portfolio and are expected to lead to exciting innovation opportunities” said Jeffery T. Sanfilippo, Chief Executive Officer.\n\nAbout John B. Sanfilippo & Son, Inc.\n\nBased in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of nut and dried fruit-based products that are sold under the Company’s Fisher ®, Orchard Valley Harvest ®, Squirrel Brand ® and Southern Style Nuts ® brand names and under a variety of private brands.\n\nForward Looking Statements\n\nSome of the statements in this release are forward-looking. These forward-looking statements may be generally identified by the use of forward-looking words and phrases such as “will”, “intends”, “may”, “believes”, “anticipates”, “should” and “expects” and are based on the Company’s current expectations or beliefs concerning future events and involve risks and uncertainties. Consequently, the Company’s actual results could differ materially. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events or other factors that affect the subject of these statements, except where expressly required to do so by law. Among the factors that could cause results to differ materially from current expectations are: (i) sales activity for the Company’s products, such...