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Slide #12. J & J Snack Foods — Philly's Famous Water Ice, Inc.
Acquirer:
J & J Snack Foods (NASDAQ:JJSF)
Acquiree:
Philly's Famous Water Ice, Inc.
Details:
J & J Snack Foods Corp. (Nasdaq:JJSF) announced today that it has acquired the stock of Philly's Famous Water Ice, Inc. (PHILLY SWIRL). PHILLY SWIRL, located in Tampa, FL, produces frozen novelty products sold to both retail and food service locations throughout the United States and to Canada. Philly Swirl's distinctive product offerings ( www.phillyswirl.com ) include fun & unique kid friendly items, as well as better for you products. The Company said that revenues of PHILLY SWIRL are approximately $25 million annually, but did not disclose the purchase price.
J&J Snack Foods manufactures snack foods and distributes frozen beverages which it markets nationally to the foodservice and retail supermarket industries. Co. operates in three business segments: Food Service, which sells soft pretzels, frozen novelties, churros, handheld products and baked goods; Retail Supermarkets, which sells soft pretzel products, frozen novelties, WHOLE FRUIT frozen fruit bars and sorbet, DOGSTERS, PHILLY SWIRL cups and sticks, SOUR PATCH sticks, ICEE Squeeze-Up Tubes and handheld products; and Frozen Beverages, which sells frozen beverages to the food service industry as well as provides repair and maintenance services to customers for customers' owned equipment.
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Buy (3.25 out of 4) 42nd percentile
(ranked lower than approx. 58% of all stocks covered)
Analysts' Target Price: JJSF Stock Forecast Based on Zacks ABR data; powered by Xignite |