John B Sanfilippo, a US nut snacks firm, has announced that it has acquired roasted nut and snack mix firm Squirrel Brand for $31.5 million.
Squirrel Brand is described as one of the leading suppliers of roasted nuts and snack mixes under the Squirrel Brand and Southern Style Nuts brands. Products are sold through grocery chains, warehouse clubs and mass merchandisers, in addition to a number of other channels.
Squirrel Brand is reported as posting net sales of approximately $36.2 million in the period equivalent to John B Sanfilippo’s financial year.
Commenting on the deal, John B Sanfilippo, chairman and chief executive officer of John B Sanfilippo, said: “The acquisition of the Squirrel Brand business provides us with an established customer base and branded product line that will help facilitate the execution of our Expanding Consumer Reach growth strategy, especially in our alternative distribution channels. Squirrel Brand has been a customer in our Contract Packaging distribution channel for 14 years, and we know well the Squirrel Brand team and their business”.
Source: John B Sanfilippo (via BusinessWire)
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