John B. Sanfilippo to acquire TreeHouse Foods snack bar assets for ~$63M cash

SANFILIPPO JOHN B & SON INC

Purchase price ~$63M cash for Lakeville, MN facility and customer relationships from TreeHouse Foods.
Acquisition expected to add $105-120M in incremental net sales in remainder of FY2024.
Expected dilution of $0.80-$1.00 per diluted share for next 12-15 months post-close.
Transaction expected to close within 30 days; funded via existing credit facility.
CEO states acquisition accelerates snack bar category strategy and diversifies product offerings.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SANFILIPPO JOHN B & SON INC entered into Asset Purchase Agreement with TreeHouse Foods, Inc., Bay Valley Foods, LLC and TreeHouse Private Brands, Inc. valued at $63,000,000 (effective 2023-09-05).

Action: entry
Agreement: asset purchase
Counterparty: TreeHouse Foods, Inc., Bay Valley Foods, LLC and TreeHouse Private Brands, Inc.
Value: $63,000,000
Effective: 2023-09-05

Exact text from the filing

On September 5, 2023, John B. Sanfilippo & Son, Inc. (the “ Company ”) entered into an asset purchase agreement (the “ APA ”) with TreeHouse Foods, Inc., Bay Valley Foods, LLC and TreeHouse Private Brands, Inc. (collectively, “ Sellers ”). Under the APA, the Company will purchase certain assets related to the Sellers’ snack bar business, which is located in Lakeville, Minnesota (the “ Snack Bar Business ”), for an aggregate cash purchase price of approximately $63 million, subject to certain adjustments (the “ Transaction ”).

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Source: SEC EDGAR

accession 0001193125-23-231631

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