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J&J extends baked goods offerings with Hill & Valley acquisition

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Gill Hyslop

By Gill Hyslop+

10-Jan-2017

Sliced Cinnamon Swirl Creme Cake is one of the products in Hill & Valley's stable that J&J has procured. Pic: Hill & Valley
Sliced Cinnamon Swirl Creme Cake is one of the products in Hill & Valley's stable that J&J has procured. Pic: Hill & Valley

J&J Snack Foods Corp (J&J) has acquired Hill & Valley, a $45m manufacturer of a variety of pre-baked cakes, cookies, pies, muffins and other desserts located in Rock Island, Illinois.

According to J&J’s senior VP, Jerry Law, the acquisition will add  to J&J’s range of nutritional branded snack foods.

“It rounds out our in-store bakery offerings by expanding our capabilities and customer base, and provides us a newly constructed facility that has ample capacity for growth and a nimble production process,” he said.

Extending capabilities

Hill & Valley’s president, Doug Davidson, added that J&J brings substantial resources to the table to enhance the company’s services to its customers.

“Hill & Valley is a leading brand of ‘sugar free’ and ‘no sugar added’ pre-baked in-store bakery items. Additionally, the company sustains strategic private labeling partnerships with retailers nationwide,” he said.

Stocks up

Last week, analysts at DA Davidson boosted their Q4 2017 earnings estimates for J&J Snack Foods Corp. in a research note issued to investors.

They now forecast that the New Jersey-based company will post earnings of $1.35 per share for the quarter, up from their previous estimate of $1.32. The investment firm currently rates J&J as “neutral”, targeting a $140 price on the stock.

At the time of writing, NASDAQ reported J&J shares at $130.06.

J&J’s food service segment is engaged in selling products such as soft pretzels, desserts, churros, dough enrobed handheld products and baked goods through partnerships and acquisitions. In 2015, it signed a partnership deal with General Mills to manufacture frozen dessert products under the Pillsbury brand name.

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