AcquisitionsMay 4, 2026, 07:47 AM
Marzetti Acquires Bachan's for $400M; Q3 Net Income $37.06M
AI Summary
Marzetti Company announced the acquisition of Bachan's, Inc., a Japanese Barbecue Sauce brand, for $400 million on May 1, 2026. This acquisition was partially funded by a new $200 million term loan. For the third quarter ended March 31, 2026, the company reported a slight decrease in net sales and net income compared to the prior year. However, year-to-date results for the nine months showed an increase in both net sales and net income.
Key Highlights
- Marzetti acquired Bachan's, Inc. for $400 million on May 1, 2026, partially funded by a $200 million term loan.
- Q3 2026 Net Sales decreased 1.0% to $453.37 million from $457.84 million year-over-year.
- Q3 2026 Net Income decreased 9.9% to $37.06 million, with Diluted EPS at $1.35, down from $1.49.
- Nine-month Net Sales increased 2.2% to $1.46 billion, and Net Income rose 6.3% to $143.32 million.
- Nine-month Diluted EPS was $5.21, up from $4.89 in the prior year.
- Retail segment net sales for Q3 decreased to $233.77 million, while Foodservice net sales increased to $219.60 million.
- Net cash provided by operating activities for nine months increased 31.9% to $228.66 million.
- Cash and equivalents increased 35.3% to $218.45 million at March 31, 2026, from June 30, 2025.
Price Impact
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