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John B. Sanfilippo & Son, Inc. Completes Acquisition of Orchard Valley Harvest, Inc.

Relateret indhold

John B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) (hereinafter

the “Company” or “JBSS”) today announced that it has completed the

acquisition of certain assets and assumption of certain liabilities of

Orchard Valley Harvest, Inc. of Modesto, California (“OVH”).

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 one of the nation’s leading suppliers of branded and private

label nut and dried fruit products in the produce category.

“The acquisition of OVH fulfills a key pillar in JBSS’ five year

strategic plan by significantly increasing our presence in the produce

section of food retailers,” said Jeffrey T. Sanfilippo, Chairman and CEO

of JBSS. “The perimeter of the store is where retailers have been

increasingly focusing their time and investment and where consumers have

more frequently been purchasing fruit and nut products. The acquisition

of OVH provides JBSS with meaningful product and packaging diversity and

significant access to one of the fastest growing channels for nut and

dried fruit products. According to consumer data, as reported by a major

market research firm, recent sales of nut and dried fruit products in

the produce section have grown faster than in other sections of food

retailers’ stores,” said Jeffrey T. Sanfilippo.

John B. Sanfilippo & Son, Inc. is one of the largest processors,

packagers, marketers and distributors of 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 PrideTM brand names.

John B. Sanfilippo & Son, Inc.

Michael J. Valentine

Chief

Financial Officer

847-214-4509

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