John B. Sanfilippo & Son, Inc. Completes Acquisition of Snack Bar Assets from TreeHouse Foods

John B. Sanfilippo & Son, Inc. (NASDAQ: JBSS) (the “Company”) today announced that it has completed the previously-announced acquisition of certain assets, including inventory, a manufacturing facility located in Lakeville, Minnesota, and customer relationships, from TreeHouse Foods, Inc. (NYSE: THS) relating to its snack bars business for approximately $61.3 million in cash. The purchase price included approximately $37.3 million of inventory.

“This is a momentous day for our Company as we close the largest and most transformational acquisition in our history. This acquisition significantly accelerates our product diversification strategy and allows us to offer our private label customers a complete offering of snack bars,” stated Jeffrey T. Sanfilippo, Chief Executive Officer of the Company. “I would like to officially welcome the approximately 400 employees of the Lakeville facility to the JBSS family. We look forward to working with this talented team to profitably grow the snack bar business and deliver long-term shareholder value.”

The purchase price for the acquisition was funded from borrowings under the Company’s amended credit facility. The Company recently increased the borrowing capacity under the credit facility to $150 million from $117.5 million to provide for the short-term working capital requirements of the acquired business.

About John B. Sanfilippo & Son, Inc.

Based in Elgin, Illinois, John B. Sanfilippo & Son, Inc. is a processor, packager, marketer and distributor of snack bars, dried cheese, and nut & dried-fruit based products that are sold under the Company’s Fisher , Orchard Valley Harvest , Squirrel Brand , Southern Style Nuts and Just the Cheese brand names and under a variety of private brands.

Additional information, including John B. Sanfilippo & Son, Inc.’s most recent statements on forms 10-Q and 10-K, may be found at jbssinc.com

About TreeHouse Foods

TreeHouse Foods, Inc. is a leading private label food and beverage manufacturer in North America. TreeHouse’s purpose is to engage and delight – one customer at a time. Through TreeHouse’s customer focus and category experience, TreeHouse strives to deliver excellent service and build capabilities and insights to drive mutually profitable growth for TreeHouse and their customers. TreeHouse’s purpose is supported by investment in depth, capabilities and operational efficiencies, which are aimed to capitalize on the long-term growth prospects in the categories in which they operate.