John B. Sanfilippo & Son Inc. has agreed to acquire the snack bars business, including a processing plant in Lakeville, Minn., from Treehouse Foods Inc., according to a press release from the company. Sanfilippo will pay approximately $63 million cash for the business unit, which is expected to add roughly $105 million to $120 million in incremental net sales through the remainder of the 2024 fiscal year.
Jeffrey T. Sanfilippo, CEO, explained that the acquisition accelerates the company’s strategy in the growing snack bar category, diversifying its product portfolio by adding a wider variety of offerings to its nutrition bar line.
“We are excited about the opportunity to work with the talented team of associates in the Lakeville facility to grow the bar business together. We have a decades-long history of operational excellence and will implement a plan to integrate the facility and business into our current operations,” he said.
