John B. Sanfilippo & Son, Inc. Enters into the Second Amendment to Amended and Restated Credit Agreement
October 02, 2023 at 05:09 pm EDT
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On September 29, 2023, John B. Sanfilippo & Son, Inc. entered into the Second Amendment to Amended and Restated Credit Agreement by and among the Company, Wells Fargo Capital Finance, LLC, as administrative agent and the lenders party thereto which amends the Amended and Restated Credit Agreement dated as of March 5, 2020 by and among the Company, the Agent and the Lenders. Pursuant to the terms of the Second Amendment: the maximum amount available for the Company to borrow under the revolving credit facility was increased to $150 million from $117.5 million; the maturity date of the Credit Agreement was extended to September 29, 2028; the Company may pay up to $100 million in dividends per year, subject to meeting availability tests as set in the Credit Agreement; the Company may make voluntary commitment reductions in increments of $5 million, to allow for a decrease of the credit facility, at the Company?s option; and other technical changes and modifications were made to the terms of the Credit Agreement.
John B. Sanfilippo & Son, Inc. is a processor and distributor of peanuts, pecans, cashews, walnuts, almonds and other nuts in the United States. Its nuts are sold under its Fisher, Orchard Valley Harvest, Squirrel Brand and Southern Style Nuts brand names and under a variety of private brands. It also markets and distributes a diverse product line of food and snack products, including peanut butter, almond butter, cashew butter, candy and confections, snack and trail mixes, nutrition bars, snack bites, sunflower kernels, dried fruit, corn snacks, chickpea snacks, sesame sticks and other sesame snack products under its brand names and under private brands. Its products are raw and processed nuts. The nut product line includes almonds, pecans, peanuts, black walnuts, English walnuts, cashews, macadamia nuts, pistachios, pine nuts, Brazil nuts and filberts. Its products are sold through food retailers in the consumer channel, commercial ingredient users and contract packaging customers.
JOHN B. SANFILIPPO & SON, INC. 
