John B. Sanfilippo & Son (JBSS) announced plans to invest $90 million to $100 million in expanding bar production at its Elgin, Illinois headquarters, marking the company’s largest capital deployment to date. The investment will fund two high-speed bar production lines capable of running at 2,000 bars per minute, with start-up expected by October 2026. Management expects the expansion to generate approximately $300 million in incremental growth over time.
The company, which generates about $1.2 billion in annual net sales, has produced EBITDA above $100 million for each of the past five years. Over the two years preceding the announcement, JBSS invested more than $150 million in capital expenditures. Future annual CapEx is projected to return to $25 million to $30 million starting in fiscal 2028.
JBSS aims to rebalance its product mix from roughly 95% nuts and trail mix to a target of at least 70% snack and trail products and 30% snack bars in the near term. Over the next four to five years, the company seeks a more balanced 50-50 split between bars and nuts, trail mix, and peanut butter. Protein bars currently account for about 60% of the bar segment, with plans to shift toward a more even distribution between protein and mainstream fruit and grain bars.
The company operates five high-capacity manufacturing facilities in the U.S. and has repurposed 300,000 square feet of warehouse space near its Elgin headquarters to accommodate the new bar production lines. Management highlighted the strategic fit of bars, which utilize similar ingredients and manufacturing processes as existing operations. If retail timelines slip, JBSS said it would pursue co-manufacturing agreements with major brands such as CLIF BAR and KIND.
Leadership transition is scheduled for October 1, when current CEO Jeffrey Sanfilippo will transition to executive chairman, and Jasper Sanfilippo, who has served as COO for two decades, will assume the CEO role. The company’s stock, trading at $74.66 as of late August 2026, carries a dividend yield of 5.94% and a P/E ratio of 14.01. JBSS has paid special dividends averaging nearly $33 per share annually.
