J & J Snack Foods Corp. Announces Planned Acquisition of Frozen Handheld Business from ConAgra Foods
April 18 2011 - 4:00PM
Business Wire
J & J Snack Foods Corp. (NASDAQ-JJSF) announced today that
it has entered into an agreement to acquire the frozen handheld
business of ConAgra Foods for an undisclosed price. The business
sells dough enrobed products sold under the PATIO, HAND FULLS,
HOLLY RIDGE BAKERY, VILLA TALIANO, TOP PICKS and private label
brands with manufacturing facilities in Holly Ridge, North Carolina
and Weston, Oregon.
The Company said that it does not expect the acquired
business to contribute operating income to the Company
over the short term. The business is presently generating
sales at an annual rate of approximately $50 million. Closing of
the transaction is expected to be in May 2011.
Gerald B. Shreiber, President and Chief Executive Officer of J
& J Snack Foods Corp., commented, “We are excited about this
opportunity. This is a fine line of products that will expand our
portfolio of brands to existing and new venues.”
J & J Snack Foods Corp.’s principal products include
SUPERPRETZEL, PRETZEL FILLERS and other soft pretzels, ICEE, SLUSH
PUPPIE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S,
SHAPE UPS, MINUTE MAID* and BARQ’S** frozen juice bars and ices,
WHOLE FRUIT sorbet and frozen fruit bars, MARY B’S biscuits and
dumplings, DADDY RAY’S fig and fruit bars, TIO PEPE’S and
CALIFORNIA CHURROS churros, THE FUNNEL CAKE FACTORY funnel cakes,
and MRS. GOODCOOKIE, CAMDEN CREEK, COUNTRY HOME and READI-BAKE
cookies. J & J has manufacturing facilities in Pennsauken,
Bridgeport and Bellmawr, New Jersey; Scranton, Hatfield and
Chambersburg, Pennsylvania; Carrollton, Texas; Atlanta, Georgia;
Moscow Mills, Missouri; Pensacola, Florida and Colton, Vernon and
Norwalk, California.
*MINUTE MAID is a registered trademark of The Coca-Cola
Company.
**BARQ’S is a registered trademark of Barq’s
Inc.
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