Sanfilippo & Son announces $63 million acquisition

ELGIN — John B. Sanfilippo & Son Inc. said Wednesday it has signed an agreement to acquire certain assets related to the snack bars business of Treehouse Foods Inc., including a manufacturing facility located in Lakeville, Minnesota, for approximately $63 million dollars in cash.

The acquisition of this bars business unit is anticipated to add approximately $105 to $120 million in incremental net sales during the remainder of our 2024 fiscal year, the company said. The acquisition is expected to close within the next 30 days, subject to customary closing conditions.

“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,” Jeffrey T. Sanfilippo, chief executive officer of John B. Sanfilippo & Son, said in a news release. “We are excited about the opportunity to work with the talented team of associates in the Lakeville facility to grow the bar business together.”

Sanfilippo & Son, based in Elgin, is a processor, packager, marketer and distributor of snack bars, dried cheese, and nut and dried-fruit based products that are sold under the company's Fisher, Orchard Valley Harvest, and other brand names, as well as under a variety of private brands.