Sanfilippo Profits Rise as Company Contemplates Acquisitions

May 4, 2010

fisher nuits John B. Sanfilippo & Son, the country’s largest private label nut manufacturer, posted significant earnings increases and indicated it is eying some potential acquisitions for next year.

For the first nine months of the year, Sanfilippo earned $11.7 million, up form $3 million in the same time period the prior year. Despite the rise in earnings, the company’s net sales declined to $420.1 million from $426.4 million in the same nine months a year ago due to lower ingredient manufacturing prices. Meanwhile, sale unit volume increased 4.2 percent for the company, which also makes Fisher nuts.

“We took steps to support our merger and acquisition growth strategy by amending our bank credit facility during the current quarter, which, among other related benefits, will allow us to use excess availability in our borrowing base to finance acquisitions," said CEO Jeffrey Sanfilippo in a company statement.

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Keywords: business, companies, food and beverage, industry, john b. sanfilippo & son, markets, private label food, private label snacks, store brand food, store brand snacks

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