John B. Sanfilippo & Son announced that it has completed the acquisition of certain assets and assumption of certain liabilities of Orchard Valley Harvest of Modesto, Calif.Under terms of the agreement, JBSS paid $32.8 million in cash funded from excess availability in the JBSS bank credit facility. JBSS may also pay amounts of up to $10.5 million, contingent upon performance of the acquired business for the 2010 and 2011 calendar years. OVH is a supplier of branded and private label nut and dried fruit products. John B. Sanfilippo & Son processes, packages, markets and distributes shelled and in-shell nuts and nut related products in the United States. Its products are sold under a variety of private labels and under the Company's Fisher, Sunshine Country, Flavor Tree and Texas Pride brand names.
