Skip to Main Content

About John B. Sanfilippo & Son, Inc.

John B. Sanfilippo & Son (JBSS) is one of the largest processors of peanuts, almonds, pecans, walnuts, cashews, and other nuts in the US. It markets the nuts as snacks and baking ingredients under a number of private labels as well as its own name brands, including Fisher, Orchard Valley Harvest, Squirrel, Southern Style Nuts, and Sunshine Country. The company also produces and distributes other foods and snacks, such as peanut butter, dried fruit and trail mixes, corn snacks, sesame sticks, and candy. JBSS's products are sold worldwide to consumers (via retailers) and, less so, to commercial ingredient channels (food service and industrial markets) and contract packagers.

Operations

The company operates in a single reporting unit and operating segment that consists of selling various nut and nut related products through three distribution channels.

Cashews & mixed nuts, trail & snack mixes and peanuts account for more than 60% of JBSS's sales. Almonds, pecans, walnuts and others generate the remaining.

The company reports its sales by distribution channel, with consumer — which supplies finished products to retailers — accounting for more than 75%. The commercial ingredient and contract packaging channels generate the rest.

Geographic Reach

Most of JBSS's sales are in the US.

The Illinois-based company has processing, packaging, warehousing, and distribution operations in Bainbridge, Georgia; Elgin, Illinois; Garysburg, North Carolina; Gustine, California; and Selma, Texas.

Sales and Marketing

JBSS serves approximately 275 customers through its three channels; they include retail outlets such as supermarket chains, wholesalers, internet retailers, and supercenters as well as other food manufacturers.

The company is heavily reliant on a few customers, including Wal-Mart (which accounts for about 35%) and Target (more than 10%).

JBSS markets its nuts through its own sales department and a network of some 60 independent brokers and various independent distributors and suppliers. Marketing and advertising expenses were $9 million, $11.9 million, and $11.3 million in fiscal years 2020, 2019, and 2018, respectively.

Financial Performance

Net sales increased 0.4% to $880.1 million for fiscal 2020 (ended June) from $876.2 million for fiscal 2019. The increase in net sales from the sales volume increase was largely offset by a 5% decrease in weighted average selling price per pound, as the majority of the sales volume increase was driven by growth in lower priced trail and snack mixes and peanuts.

Net income was $54.1 million for fiscal 2020, compared to $39.5 million for fiscal 2019.

Cash held by the company at the end of fiscal 2020 decreased to $1.5 million compared to $1.6 million in the prior year. Cash provided by operations was $63.6 million, while used for investing and financing activities were $14.0 million and $49.6 million, respectively.

Strategy

Marketing strategies are developed for each distribution channel and focus primarily on branded products. Branded consumer efforts concentrate on building brand awareness, developing, identifying and introducing new products, attracting new customers, increasing distribution and increasing consumption in the snack nut, recipe nut and produce categories. Private brand and commercial ingredient channel efforts are focused on category management, new product identification and introduction, brand awareness and merchandising support.

Company Background

JBSS traces its history to 1922 when Gaspare Sanfilippo and his son John founded a pecan shelling company in Chicago. The company diversified into other nuts in 1959.

John B. Sanfilippo & Son, Inc.

1703 N Randall Rd
Elgin, IL 60123-7820
Phone: 1 (847) 289-1800

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: JBSS
Stock Exchange: , NASDAQ
Chairman and CEO: Jeffrey T. Sanfilippo
COO, President and Assistant Secretary: Jasper B. Sanfilippo
CFO, Group President and Secretary: Michael J. Valentine
Employees (This Location): 260
Employees (All Locations): 1,370

Major Office Locations

Elgin, IL

Other Locations

Gustine, CA
Bainbridge, GA
Elgin, IL
Westmont, IL
Garysburg, NC
Selma, TX