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John 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.
Just 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.
"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.
Posted In: JBSS
