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

By Gill Hyslop contact

- Last updated on GMT

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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