John B. Sanfilippo & Son, Inc. (JBSS): Business Model Canvas [Dec-2025 Updated]

You're digging into the nuts and bolts of a major food processor, and honestly, understanding John B. Sanfilippo & Son, Inc.'s (JBSS) engine is key to seeing where the industry is headed. Having spent years analyzing these structures, I can tell you their fiscal 2025 performance-hitting $1.11 billion in net sales-is built on a surprisingly concentrated foundation: private label manufacturing accounted for 83% of that revenue, largely driven by massive customers like Walmart, which alone brought in 40% of sales. This canvas distills exactly how they manage the huge raw material costs, which chewed up about 73% of their cost of sales, through their global sourcing and five production facilities, so keep reading to see the full picture of their key activities and value propositions.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Key Partnerships

You're looking at the critical external relationships John B. Sanfilippo & Son, Inc. (JBSS) relies on to keep the nuts and snacks flowing. These partnerships are key to managing commodity risk and scaling up production, especially for their growing bar business.

Global and domestic raw nut/dried fruit suppliers for commodity sourcing

John B. Sanfilippo & Son, Inc. relies on a global network to secure its core inputs, which include peanuts, pecans, cashews, walnuts, and almonds. The company's global commodity experts closely monitor the progress of every nut used to ensure quality. Vertical integration efforts are also in place, including shelling operations for pecans, peanuts, and walnuts, which helps manage cost advantages. Net sales for the fourth quarter of fiscal 2025 were $269.1 million, and the full fiscal year 2025 sales reached $1.11 billion.

Contract and common carriers for product distribution logistics

Moving product efficiently is non-negotiable, especially with a sales volume that hit a record 358.3 million pounds for the full fiscal year 2025. The company uses contract and common carriers to move product from its production facilities, including the one in Lakeville, Minnesota, and the new distribution center in Huntley, Illinois, to its customers across the Consumer, Commercial Ingredients, and Contract Manufacturing channels. The Contract Manufacturing Distribution Channel saw a sales volume increase of +18.7% in fiscal 2025.

Independent brokers and distributors (approx. 55) for market reach

John B. Sanfilippo & Son, Inc. serves retailers, wholesalers, and contract manufacturing customers through its established network. This network includes independent brokers and distributors to ensure market reach. The Consumer channel accounted for 82% of sales in the first quarter of fiscal 2026, showing the importance of this distribution arm. Private label sales represented 83% of total net sales in fiscal 2025.

• Network size: approximately 55 independent brokers and distributors.
• Customer base served: Retailers and wholesalers.
• Key sales mix in FY25: Private label at 83%, Branded at 17%.

Food banks and community organizations for philanthropic mission

John B. Sanfilippo & Son, Inc. engages with community organizations for its philanthropic mission. For inquiries regarding donations, stakeholders are directed to the company's Community page. The company has a history of providing shareholder value, having paid over $40 per share in total dividends (regular and special) since 2012.

• Donation inquiries are directed to the Community page.
• Total dividends paid since 2012: Exceed $40 per share.

Equipment suppliers for new high-speed bar production lines

To meet the aggressive growth targets for the bar category, which aims for $300 million to $500 million in revenue in 3-5 years, John B. Sanfilippo & Son, Inc. is making significant capital investments. The company plans to spend approximately $90 million on equipment to expand domestic production capabilities by the end of fiscal 2026. This investment includes new high-speed bar lines sourced from Europe. Capital expenditures totaled $37 million in the current fiscal year (implied FY2025).

Finance: draft 13-week cash view by Friday.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Key Activities

You're looking at the core engine of John B. Sanfilippo & Son, Inc. (JBSS) as of late 2025, which is heavily focused on processing raw materials and managing a complex supply chain to feed its various distribution channels. Here's the quick math on what keeps the operation running, grounded in the fiscal 2025 numbers we have.

Processing and packaging nuts (shelling, roasting, blanching, seasoning)

This is the heart of the nut business, involving significant raw material handling across multiple specialized sites. The scale of input processing is substantial, reflecting the company's role as a major processor in the U.S. market.

• Shelling and processing of runner type peanuts at the Bainbridge, Georgia facility reached over 120 million pounds annually in fiscal 2025.
• The Selma, Texas facility has the capacity to shell 70 million pounds of pecans annually.
• The company manages significant cold storage for raw and finished goods, including 9 million pounds at Bainbridge, 50 million pounds for walnuts at Gustine, and 60 million pounds for in-shell pecans at Selma.
• The weighted average cost per pound of raw nut and dried fruit input stock on hand increased by 30.4% year over year for fiscal 2025, showing the pressure on procurement.

Manufacturing branded and private label snack and nutrition bars

The snack bar segment, bolstered by the Lakeville Acquisition, is a key growth driver, though it faces its own volume dynamics. You can see the impact of this category in the quarterly results.

• In the second quarter of fiscal 2025, bars sales volume increased by approximately 28% over the prior year quarter.
• The Lakeville Acquisition contributed approximately $40.5 million to net sales in the first quarter of fiscal 2025 alone.
• The company is planning to spend approximately $90 million on equipment to expand domestic production capabilities, including for bars, by the end of fiscal 2026.

Global commodity procurement and risk management

Managing the cost of nuts is critical; material costs represented approximately 73% of total cost of sales for fiscal 2025. The strategy involves stockpiling to hedge against price spikes, but this ties up working capital.

• The value of total inventories on hand increased by 29.5% at the end of the fourth quarter of fiscal 2025, largely due to higher commodity acquisition costs.
• The company is proactively working with strategic suppliers to manage cost increases from external factors like tariffs.
• Full-year fiscal 2025 net sales reached $1.11 billion, navigating volatility through disciplined cost controls and pricing.

Marketing and brand management for Fisher and Orchard Valley Harvest

John B. Sanfilippo & Son, Inc. markets its products under several name brands, with Fisher and Orchard Valley Harvest being key components of the Consumer Distribution Channel portfolio. The company also relies heavily on private label sales.

The primary brands actively marketed include Fisher, Orchard Valley Harvest, Squirrel Brand, and Southern Style Nuts. Private brand sales volume, including the Lakeville Acquisition, represented approximately 88% of total sales volume in that channel in Q1 FY2025. Customer concentration is notable: Net sales to Walmart Inc. accounted for approximately 40% of total net sales for fiscal 2025, and Target Corporation accounted for about 11%.

Operating five high-capacity production facilities

The operational footprint is built around five facilities, with three strategically placed in prime growing regions to support shelling and primary processing. These facilities handle everything from raw input to finished packaging.

The distribution of these key assets and their primary functions are detailed below. Defintely, this network supports the entire operation.

Finance: draft 13-week cash view by Friday.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Key Resources

You're looking at the core assets that let John B. Sanfilippo & Son, Inc. (JBSS) operate and compete in the snack and nut space. These aren't just things they own; they are the engines driving their value proposition.

Proprietary brands are definitely a major asset, giving John B. Sanfilippo & Son, Inc. direct access to the consumer shelf. These brands are central to their consumer channel strategy.

• Fisher®
• Orchard Valley Harvest®
• Squirrel Brand®
• Just the Cheese®
• Southern Style Nuts®

The company's brand portfolio is complemented by its massive private label presence. For the 52 weeks ending May 18, 2025, the private label segment accounted for 83% of John B. Sanfilippo & Son, Inc.'s sales. John B. Sanfilippo & Son, Inc. also made a specific investment in one of these brands, with the purchase price for the Just the Cheese brand being $3.5 million.

John B. Sanfilippo & Son, Inc. runs a vertically integrated shelling operation, which is key for managing the cost of goods sold in a volatile commodity market. This integration covers the processing of several key nuts.

The physical infrastructure supporting this is substantial. John B. Sanfilippo & Son, Inc. operates five high-capacity, state-of-the-art production facilities across the United States. Three of these facilities are strategically placed in primary nut growing regions to help with sourcing and logistics.

This manufacturing base supports a broad distribution network across North America, serving all three of its selling channels. The scale of operations is evident in the full fiscal year 2024 net sales, which reached $1.07 billion.

The company's ability to invest in this infrastructure comes from its financial capital. For fiscal year 2024, capital expenditures accounted for a $28.3 million use of cash. This is up from $20.7 million in capital expenditures for fiscal 2023. The deployment of capital also included the $3.5 million purchase price for the Just the Cheese brand acquisition.

Finally, John B. Sanfilippo & Son, Inc. maintains expertise in consumer insights and market data. This investment allows the company to be a consumer-centric organization, quickly identifying and responding to changing consumer trends. The company has access to 14+ Consumer Market Data Insights to inform its strategy.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose John B. Sanfilippo & Son, Inc. (JBSS) over the competition. It's not just about nuts; it's about scale, quality, and partnership, especially in the private label space.

The company's primary value proposition centers on its high-quality, diverse portfolio of nut and dried fruit products. This isn't a single-item operation; you're dealing with a complete offering that spans ingredient supply to finished consumer goods.

The sheer scale of their private label manufacturing is a massive draw for major retailers. As of the close of fiscal year 2025, this segment represented a dominant 83% of John B. Sanfilippo & Son, Inc.'s total net sales, which reached $1.11 billion for the full year. This signals deep trust and integration with the largest names in retail.

This private label strength is supported by a focus on on-the-go consumption:

• Value-added snack bars and gourmet mixes.
• New high-speed bar manufacturing capacity added in fiscal year 2025.
• Strategic entry into the high-growth snack bar category via the Lakeville Acquisition.

For commercial customers, John B. Sanfilippo & Son, Inc. offers a reliable supply chain and quality control for commercial ingredients. This is critical for food manufacturers who cannot afford supply disruptions or quality variances in their raw materials. The company operates 5 manufacturing locations, providing a broad footprint for processing and distribution.

The heritage of the brands provides a layer of established quality assurance, even when selling private label. The company leverages this history to build confidence:

The company's ability to manage a massive, diverse product flow is a key value driver. They process and distribute peanuts, pecans, cashews, walnuts, and almonds, alongside snack products.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Customer Relationships

The relationship structure for John B. Sanfilippo & Son, Inc. (JBSS) centers on high-touch engagement for large B2B partners and a broad, transactional approach for the end consumer market, reflecting its dual role as a manufacturer and private label supplier.

Long-term strategic partnerships with largest customers (Walmart, Target)

Relationships with the largest retail customers are foundational, evidenced by the fact that approximately 40% of John B. Sanfilippo & Son, Inc. sales goes to Walmart in fiscal year 2025. The company is actively engaged in expanding product portfolios with what it terms transformational customers. Furthermore, John B. Sanfilippo & Son, Inc. is proactively collaborating closely with customers to assess the impact of tariffs on retail selling prices and consumer demand, seeking solutions to mitigate these effects. The strategy includes expanding consumer reach via e-commerce and club channels.

Dedicated sales team and brokers for major retailer accounts

The necessity of managing a relationship where one customer accounts for 40% of net sales implies a dedicated structure, likely involving senior sales leadership and specialized broker networks to handle the volume and complexity of major retailer accounts. The company is focused on enhancing profitability through operational efficiencies and optimized pricing strategies to support volume growth across distribution channels.

Direct, customized relationships with contract manufacturing clients

The Contract Manufacturing Distribution Channel requires direct, customized relationships, as evidenced by specific client activity. For instance, in the fourth quarter of fiscal 2025, this channel saw a sales volume increase of 18.7%, driven by increased granola volume processed at the Lakeville facility for a major customer. Conversely, in the first quarter of fiscal 2025, sales volume in this channel decreased by 19.8% excluding the Lakeville granola volume, due to reduced peanut distribution by a major customer, showing a direct, volume-sensitive dependency on key contracts.

Transactional relationship with end consumers via retail presence

The relationship with the end consumer is primarily transactional, mediated through the retail shelf presence of branded and private label products. For the Consumer Distribution Channel in fiscal year 2025, Private Label made up 83% of Total John B. Sanfilippo & Son, Inc. Net Sales, while Branded products accounted for the remaining 17%. The Consumer Distribution Channel experienced a 4.0% decrease in sales volume in the third quarter of fiscal 2025, indicating price sensitivity or shifts in consumer purchasing behavior at the point of sale.

Key Customer and Channel Metrics for Fiscal Year 2025:

The company is focused on enhancing profitability through operational efficiencies and disciplined cost management to support volume growth across its distribution channels.

• Expanding product portfolios with transformational customers.
• Collaborating with customers to manage tariff impact on retail prices.
• Strategic investments in manufacturing capabilities to unlock new opportunities.
• Focus on expanding reach via e-commerce and club channels.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Channels

You're looking at how John B. Sanfilippo & Son, Inc. gets its product to market, which is clearly segmented across three main avenues. The numbers show how each channel performed through the end of fiscal year 2025 and into the start of fiscal 2026.

Consumer channel: Grocery stores, mass merchandisers, convenience stores

The Consumer Distribution Channel saw significant movement in fiscal 2025, influenced heavily by the Lakeville Acquisition, but also facing headwinds later in the year. For instance, in the first quarter of fiscal 2025 (ended September 2024), the channel's net sales increased by 30.8% (or 3.4% excluding the Lakeville Acquisition impact). The sales volume growth, excluding Lakeville, was 3.4% year-over-year for that same quarter.

However, the channel experienced a downturn in the fourth quarter of fiscal 2025 (ended June 2025), with sales volume decreasing by 11.5%. This was largely attributed to a 16.7% reduction in bars volume. By the first quarter of fiscal 2026 (ended September 2025), the channel continued to face distribution challenges, including lost distribution of Orchard Valley Harvest at a major customer in the non-food sector.

Commercial Ingredients channel: Food manufacturers, bakeries, foodservice

This channel provides ingredients to other businesses. In the first quarter of fiscal 2025, net sales for the Commercial Ingredients Distribution Channel were up 1.2% including the Lakeville Acquisition, but down 0.6% excluding it. The sales volume for this channel saw a 1.2% increase in that same quarter, mainly due to the Lakeville acquisition.

Looking at the most recent data, the first quarter of fiscal 2026 (ended September 2025) showed strong volume growth for this segment. The Commercial Ingredients Distribution Channel volume increased by 12.8%, driven by new business with two customers, higher peanut butter volume at existing food service customers, and increased sales of peanut crushing stock to peanut oil processors.

Contract Manufacturing channel: Private label for other food companies

The Contract Manufacturing Distribution Channel demonstrated robust volume growth across the reported periods, often boosted by the Lakeville facility's granola production. In the second quarter of fiscal 2025, sales volume on this channel surged by 55.6%. By the fourth quarter of fiscal 2025, the sales volume increase was 18.7%, helped by increased granola volume and snack nut sales to a new customer.

The first quarter of fiscal 2026 (ended September 2025) continued this positive trend with an 18.4% sales volume increase, driven by increased granola sales volume and increased snack nut sales to another customer added in the prior year's second quarter.

E-commerce and club channels for expanded consumer reach

While specific revenue or volume figures for dedicated e-commerce or club channels are not broken out separately in the latest reports, the overall strategy points to portfolio expansion. The company is focused on expanding product portfolios with transformational customers to meet evolving consumer needs. This suggests these channels are integrated into the broader consumer strategy.

New distribution center in Huntley, Illinois

John B. Sanfilippo & Son, Inc. expanded its physical footprint with a new distribution center in Huntley, Illinois. The company entered into a lease agreement for a 444,600 square foot industrial property at 12300 Jim Dhamer Drive, which is part of a larger building totaling 729,823 square feet. The official ribbon cutting and grand opening ceremony for this facility was hosted on October 30, 2024. The increased rent associated with this new facility was noted as a partial offset to expense reductions in operating expenses for the first quarter of fiscal 2025, the third quarter of fiscal 2025, and the fourth quarter of fiscal 2025.

Here's a quick look at the sales volume performance across the three main channels for select quarters of fiscal 2025:

The full fiscal year 2025 sales volume for John B. Sanfilippo & Son, Inc. increased by 11.7 million pounds, or 3.4%, reaching 358.3 million pounds in total.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Customer Segments

You're looking at the core customer base for John B. Sanfilippo & Son, Inc. (JBSS) as of their Fiscal Year 2025 end. This business model relies heavily on a few massive retail partners, but also serves other distinct groups.

The largest customer concentration is clearly in the major food retailers and wholesalers segment. You need to know that John B. Sanfilippo & Son, Inc. is dependent on a few significant customers for a majority of its total net sales, especially within the consumer channel. For the fiscal year ended June 26, 2025, the customer concentration looked like this:

Honestly, that concentration is something to watch. No other single customer accounted for more than 10% of net sales for any period presented, including fiscal 2025. John B. Sanfilippo & Son, Inc. sells products to approximately 210 customers across all its channels.

Next, let's look at the end consumers via the consumer distribution channel, which is the largest channel by sales. This group buys both private label and John B. Sanfilippo & Son, Inc.'s own brands. For the Consumer Channel net sales in FY2025, the split was:

• Private Label: 83% of Consumer Channel Net Sales.
• JBSS Brands: 17% of Consumer Channel Net Sales.

The company markets its own products under names like Fisher (Recipe Nuts, Snack Nuts), Orchard Valley Harvest, Squirrel Brand, Southern Style Nuts, and Just the Cheese brands. For example, Fisher Recipe Nuts volume increased 3.8% in Q2 FY2025 due to merchandising activity at several customers.

The other segments-commercial ingredient users and contract manufacturing-are important, though perhaps less dominant in the overall revenue mix compared to the major retailers. These segments are tracked by sales volume performance across quarters:

• Commercial Ingredients Channel volume grew 1.4% in Q2 FY2025, driven by sales to peanut oil processors and a new food service customer.
• Contract Manufacturing Channel volume surged 55.6% in Q2 FY2025, largely due to increased granola volume processed at the Lakeville facility for a major customer.
• In Q4 FY2025, the Contract Manufacturing Channel volume increased by 18.7%, helped by snack nut sales to a new customer.

To be fair, the commercial and contract segments can be lumpy. For instance, in Q3 FY2025, the Contract Packaging Distribution Channel volume was up 6.0%, but this was partially offset by reduced peanut sales volume to a major customer due to soft consumer demand.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Cost Structure

The cost structure for John B. Sanfilippo & Son, Inc. is heavily weighted toward input costs, reflecting its position as a processor and packager of nut and dried fruit products. For the fourth quarter of fiscal year 2025, net sales were reported at $269.1 million, with a gross profit of $48.8 million, resulting in a cost of sales of approximately $220.3 million.

Key cost elements driving the business model include:

• Raw material costs (nuts, commodities, packaging) at approximately 73% of cost of sales.
• Manufacturing and operational spending, which saw improved efficiencies in the fourth quarter of fiscal 2025.
• Distribution and freight expenses, which were reduced in the fourth quarter of fiscal 2025 as part of overall operating expense discipline.
• Rent expense for new facilities, such as the warehouse in Huntley, Illinois, which partially offset operating expense reductions.
• Interest expense on debt, reported at $1.2 million in Q4 FY2025.

Here is a breakdown of the primary cost components based on the latest available full-year and fourth-quarter fiscal 2025 figures:

The cost of sales is dominated by commodity prices, which increased the weighted average cost per pound of raw nut and dried fruit input stock on hand by 30.4% year-over-year at the end of the fourth quarter of fiscal 2025. Manufacturing spending was lower in Q4 FY2025, contributing to improved gross profit despite higher commodity costs.

Total operating expenses for the fourth quarter of fiscal 2025 decreased by $6.7 million compared to the prior year quarter. This reduction was driven by several factors:

• Lower incentive compensation expenses.
• Reduced freight expense.
• Lower third-party warehouse expenses.
• Decreased marketing and insights spending.

These savings were partially offset by higher rent associated with the new facility in Huntley, Illinois, and increases in wages. The Lakeville Acquisition, completed in a prior period, also impacted year-over-year comparisons of operational spending due to the non-recurrence of a bargain purchase gain.

John B. Sanfilippo & Son, Inc. (JBSS) - Canvas Business Model: Revenue Streams

You're looking at the top-line drivers for John B. Sanfilippo & Son, Inc. as of late 2025. The company achieved a record full-year net sales figure for fiscal 2025. Honestly, understanding where that money comes from is key to seeing their strategy in action.

The total revenue for the full year ended June 26, 2025, reached $1.11 billion. This represented an increase of 3.8% over the prior fiscal year. The fourth quarter of fiscal 2025 saw net sales of $269.1 million, a slight decrease of 0.2% year-over-year.

John B. Sanfilippo & Son, Inc. generates revenue across distinct product categories and distribution channels. The Consumer Distribution Channel, which includes private label and branded products, remains the largest component. The company markets and processes products under brand names like Fisher and Orchard Valley Harvest.

Here is a look at the performance by distribution channel based on the latest reported volume changes for the fourth quarter of fiscal 2025:

Within the Consumer Distribution Channel, revenue streams are segmented by product type. The sales performance for these product types in the fourth quarter showed distinct trends:

• Sale of private label products volume decreased by 10.7%.
• Sale of branded products volume (including Fisher and Orchard Valley Harvest) decreased by 19.7%.
• The decrease in branded volume was primarily due to a 42.9% reduction in Orchard Valley Harvest sales from lost distribution.

The company continues to focus on growing sales volume across all three distribution channels, which directly translates into their revenue streams. The full-year sales volume for fiscal 2025 increased by 11.7 million pounds, or 3.4%, to 358.3 million pounds.

Finance: draft 13-week cash view by Friday.