Chicago, IL – May 13, 2011; City Capital Advisors, LLC is pleased to announce J&J has completed the acquisition of the frozen handheld business from ConAgra Foods. City Capital served as the exclusive financial advisor to J&J Snack Foods in this transaction. The business includes dough enrobed products sold under the PATIO, HAND FULLS, HOLLY RIDGE BAKERY, VILLA TALIANO, TOP PICKS and private label brands with manufacturing facilities in Holly Ridge, North Carolina, and Weston Oregon.
City Capital Advisors was hired as the exclusive financial advisor to J&J Snack foods in connection with the acquisition of the frozen handheld business from ConAgra Foods. This acquisition provides J&J Snack Foods with ample flexibility to meet changing consumer needs. The two USDA approved manufacturing facilities offer a wide variety of enrobed products from sweet to savory, healthy or indulgent, as well as individual retail or bulk foodservice packs. The business is presently generating sales at an annual rate of approximately $50 million.
Gerald B. Shreiber, President and Chief Executive Officer of J&J Snack Foods Corp., commented “We are excited about this opportunity. This is a fine line of products that will expand our portfolio of brands to existing and new venues.”
About J&J Snack Foods
J&J Snack Foods Corp. is a manufacturer, marketer and distributor of a variety of nutritional, popularly priced, branded niche snack foods and beverages for the food service and retail supermarket industries. The Company is listed on the NASDAQ exchange as “JJSF”, and serves both national and international markets. J&J’s principal products includes frozen soft pretzels under SUPERPRETZEL®, Pretzel Fillers® and other brand names; ICEE® frozen beverages; LUIGI’S® Real Italian Ice, Whole Fruit®; frozen juice bars under the Minute Maid®, Barq’s®, SHAPE UPS® and CHILL® brand names; TIO PEPE’S® churros; The Funnel Cake Factory® funnel cakes; and cookies under the Mrs. GoodCookie® and CAMDEN CREEK® brands.
About City Capital Advisors
City Capital Advisors, a FINRA registered broker-dealer, is a results oriented investment and merchant banking advisory firm. Client engagements are managed exclusively by experienced senior investment bankers who deliver business owners optimal performance in capitalizing on the value of their companies and meeting their objectives as shareholders. City Capital’s investment banking professionals have successfully advised clients on merger and capital markets transactions totaling in excess of $60 billion.