John B. Sanfilippo & Son Acquires Snack Bar Assets From Treehouse Foods

John B. Sanfilippo & Son has acquired several assets from Treehouse Foods relating to its snack bars business, including a manufacturing facility in Lakeville, Minn.

The deal between the two private label manufacturers is worth approximately $63 million in cash, subject to certain adjustments. The acquisition of the assets by John B. Sanfilippo & Son is anticipated to add approximately $105 to $120 million in incremental net sales during the remainder of the company’s 2024 fiscal year.

“This acquisition significantly accelerates our strategy within the growing snack bar category and diversifies our product offerings. We will be able to offer our private label customers a complete portfolio of snack bars, including fruit and grain, crunchy, protein, sweet and salty and chewy bars that complement our internally developed nutrition bars,” said Jeffrey T. Sanfilippo, CEO of John B. Sanfilippo & Son. “We are excited about the opportunity to work with the talented team of associates in the Lakeville facility to grow the bar business together. We have a decades-long history of operational excellence and will implement a plan to integrate the facility and business into our current operations. In doing so, we will focus on our core operational competencies in the snack foods space, our consumer insights and history of innovative research and development to maximize its performance.”

John B. Sanfilippo & Son said the purchase price for the acquisition will be funded from excess availability under its current bank credit facility. The acquisition is expected to close within the next 30 days, subject to customary closing conditions.

Based in Elgin, Ill., John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of snack bars, dried cheese, and nut & dried-fruit based products under its brands and private brands. TreeHouse Foods, Inc. is a leading private label food and beverage manufacturer in North America.