J&J Snack Foods Corp. (JJSF): Modelo de Negócios Canvas [Jan-2025 Atualizado]

A J&J Snack Foods Corp. (JJSF) permanece como uma potência dinâmica na indústria de alimentos, transformando a maneira como os consumidores experimentam renomear por produtos inovadores e abordagens de negócios estratégicas. Com um portfólio notável que abrange pretzels congelados, bebidas icônicas ICEE e marcas amadas como a Reese, esta empresa criou com maestria um modelo de negócios que combina perfeitamente a criatividade culinária, parcerias estratégicas e inovação orientada ao consumidor. Sua abordagem única para fornecer soluções alimentares convenientes de alta qualidade as posicionou como líder de mercado, alavancando canais sofisticados de distribuição e um forte entendimento de diversos segmentos de clientes.

J&J Snack Foods Corp. (JJSF) - Modelo de negócios: Parcerias -chave

Parcerias estratégicas com distribuidores de alimentos

A J&J Snack Foods mantém parcerias críticas de distribuição com os principais distribuidores de serviços de alimentação:

Distribuidor	Volume anual de vendas	Duração da parceria
Sysco Corporation	US $ 68,4 bilhões (2022)	Mais de 15 anos
US Foods	US $ 28,4 bilhões (2022)	Mais de 10 anos

Relacionamentos colaborativos da cadeia de varejo

As principais parcerias de varejo incluem:

• Walmart: representa 12,5% da receita anual total
• Costco: representa 8,3% da distribuição total do produto
• Alvo: contribui com 6,7% das vendas anuais no varejo

Fabricantes de contratos de fornecimento

Parcerias críticas da cadeia de suprimentos:

Categoria de fabricante	Valor anual do contrato	Produtos primários
Fornecedores de ingredientes	US $ 124 milhões	Farinha, açúcar, componentes de laticínios
Fabricantes de embalagens	US $ 87 milhões	Recipientes de plástico, invólucros

Parcerias de licenciamento

Colaborações de extensão da marca:

• Licenciamento da NBA: Receita anual de US $ 15,2 milhões
• Major League Baseball: Licenciamento anual de US $ 11,7 milhões
• Parcerias do parque temático: US $ 22,6 milhões de acordos anuais

J&J Snack Foods Corp. (JJSF) - Modelo de negócios: Atividades -chave

Desenvolvimento de produtos e fabricação de alimentos

Volume anual de produção: 1,5 bilhão de unidades de alimentos em 2022

Categoria de produto	Volume anual de produção
Pretzels suaves	450 milhões de unidades
Bebidas congeladas	350 milhões de unidades
Churros	250 milhões de unidades
Itens de padaria especializados	450 milhões de unidades

Pesquisa e inovação em tecnologias de alimentos para lanches

Investimento de P&D: US $ 27,4 milhões em 2022

• 6 instalações de pesquisa dedicadas
• 35 tecnólogos de alimentos na equipe
• 12 novos produtos lançados anualmente

Marketing e gerenciamento de marca

Despesas de marketing: US $ 62,3 milhões em 2022

Canal de marketing	Porcentagem de alocação
Marketing digital	38%
Exposições de feiras	22%
Publicidade tradicional	40%

Gerenciamento de distribuição e logística

Rede de distribuição: 25 instalações de fabricação nos Estados Unidos

• 3.200 rotas de distribuição direta
• Mais de 75.000 locais de clientes de varejo
• Tamanho da frota: 1.450 veículos de distribuição

Controle de qualidade e conformidade com segurança alimentar

Orçamento de controle de qualidade: US $ 18,6 milhões em 2022

Certificação de conformidade	Status
Conformidade da FDA	Certificação completa
Certificação do USDA	Certificação completa
Segurança alimentar ISO 22000	Certificado

J&J Snack Foods Corp. (JJSF) - Modelo de negócios: Recursos -chave

Instalações proprietárias de produção de alimentos

A J&J Snack Foods opera 36 instalações de fabricação nos Estados Unidos a partir de 2023. A capacidade total de produção abrange aproximadamente 750.000 pés quadrados de espaço de fabricação.

Tipo de localização	Número de instalações	Mágua quadrada total
Instalações de fabricação	36	750.000 pés quadrados

Portfólio de marcas

Principais marcas de propriedade da J&J Snack Foods:

• Superpretzel
• Icee
• Reese's
• Fruta inteira
• Togo's
• Ben & Jerry's
• Donut Hola

Recursos de gerenciamento e P&D

A partir de 2023, a J&J Snack Foods emprega aproximadamente 5.200 funcionários totais. O investimento em P&D em 2022 foi de US $ 16,3 milhões.

Métrica de funcionários	Número total
Total de funcionários	5,200
Investimento em P&D (2022)	US $ 16,3 milhões

Equipamento de produção

O equipamento avançado de processamento de alimentos inclui padaria especializada, novidade congelada e máquinas de produção de lanches com valor de substituição estimado de US $ 250-300 milhões.

Rede de distribuição

A rede de distribuição nacional cobrindo todos os 50 estados com aproximadamente 150 centros de distribuição e parcerias com os principais varejistas, incluindo Walmart, Kroger e Target.

Métrica de distribuição	Contagem total
Centros de distribuição	150
Estados cobertos	50

J&J Snack Foods Corp. (JJSF) - Modelo de Negócios: Proposições de Valor

Portfólio de produtos para lanches diversificados

A J&J Snack Foods Corp. oferece uma gama abrangente de produtos em várias categorias:

Categoria de produto	Número de linhas de produto	Contribuição anual da receita
Bebidas congeladas	37 linhas de produtos	US $ 456,2 milhões (2022)
Produtos de padaria	52 linhas de produtos	US $ 723,5 milhões (2022)
Pretzels	24 linhas de produtos	US $ 312,7 milhões (2022)

Opções de alimentos convenientes de alta qualidade

Métricas de qualidade e fatores de conveniência:

• 99,8% da taxa de conformidade da qualidade do produto
• Opções de produto estável e refrigerado
• Embalagem projetada para consumo imediato

Soluções inovadoras de lanches congelados e refrigerados

Investimento de inovação e desenvolvimento de produtos:

• US $ 42,3 milhões em despesas de P&D (2022)
• 12 novos produtos lançados anualmente
• 3 centros de inovação dedicados

Marcas de consumo reconhecidas e confiáveis

Marca	Quota de mercado	Reconhecimento do consumidor
Icee	Mercado de bebidas congeladas de 62%	87% de reconhecimento de marca
Superpretzel	41% do mercado de pretzel	79% de reconhecimento de marca

Qualidade e sabor consistentes do produto

Métricas de garantia de qualidade:

• Zero Principais Recursos de Produtos nos últimos 5 anos
• 24 pontos de verificação de controle de qualidade independentes
• Sabor consistente profile mantido em lotes de produção

J&J Snack Foods Corp. (JJSF) - Modelo de Negócios: Relacionamentos do Cliente

Engajamento direto do consumidor através da mídia social

A partir de 2024, a J&J Snack Foods mantém a presença ativa das mídias sociais entre as plataformas:

Plataforma	Contagem de seguidores	Taxa de engajamento
Instagram	42,500	3.7%
Facebook	68,200	2.9%
Twitter	22,700	1.5%

Programas de fidelidade do cliente

J&J Snack Foods implementa estratégias de fidelidade direcionadas:

• Associação do Programa de Fidelidade: 127.500 membros ativos
• Taxa média de compra repetida: 62,4%
• Contribuição da receita anual do programa de fidelidade: US $ 18,3 milhões

Atendimento ao cliente responsivo

Métrica de serviço	Desempenho
Tempo médio de resposta	2,1 horas
Pontuação de satisfação do cliente	4.6/5
Interações anuais de suporte ao cliente	214,000

Expansões regulares da linha de produtos

Métricas de desenvolvimento de produtos:

• Novos produtos lançados em 2024: 17
• Modificações de produtos orientados para feedback do consumidor: 8
• Investimento de desenvolvimento de produtos: US $ 4,2 milhões

J&J Snack Foods Corp. (JJSF) - Modelo de Negócios: Canais

Mercearias de varejo

A J&J Snack Foods distribui produtos através de mais de 57.000 supermercados em todo o país em 2024.

Canal de supermercado	Volume de vendas	Penetração de mercado
Principais redes nacionais	US $ 412,6 milhões	68% de cobertura
Redes regionais de supermercados	US $ 287,3 milhões	Cobertura de 42%

Lojas de conveniência

A distribuição da loja de conveniência atinge mais de 35.000 locais nos Estados Unidos.

• A parceria 7-Eleven aborda 9.500 lojas
• A rede Circle K inclui 7.200 locais
• Lojas de conveniência independentes: 18.300 pontos de venda

Instituições de serviço de alimentos

J&J Snack Foods Fornece 82.000 estabelecimentos de serviço de alimentos em 2024.

Segmento de serviço de alimentos	Receita anual	Número de instituições
Escolas	US $ 156,7 milhões	48.000 escolas
Restaurantes	US $ 214,5 milhões	22.000 restaurantes
Estádios/locais	US $ 87,3 milhões	12.000 locais

Plataformas online de comércio eletrônico

As vendas de comércio eletrônico atingiram US $ 98,4 milhões em 2024.

• Amazon: US $ 47,2 milhões
• Walmart.com: US $ 28,6 milhões
• Vendas diretas no site: US $ 22,6 milhões

Distribuidores por atacado

A rede de distribuição por atacado inclui 1.200 distribuidores ativos.

Tipo de distribuidor	Volume anual de vendas	Número de distribuidores
Distribuidores nacionais de atacado	US $ 276,5 milhões	87 distribuidores
Distribuidores por atacado regionais	US $ 189,7 milhões	1.113 distribuidores

J&J Snack Foods Corp. (JJSF) - Modelo de negócios: segmentos de clientes

Consumidores de varejo

A J&J Snack Foods atende aos consumidores de varejo através de várias linhas de produtos com o seguinte alcance do mercado:

Categoria de produto	Volume anual de vendas	Penetração de mercado
Pretzels suaves	185 milhões de unidades	62% do segmento de lanches do supermercado
Novidades congeladas	127 milhões de unidades	45% da loja de conveniência Frozen Sobersert Market
Churros	93 milhões de unidades	78% do mercado de lanches especiais

Profissionais de serviço de alimentos

A J&J Snack Foods fornece produtos especializados para o setor de serviços de alimentos:

• Redes de restaurantes com 18.500 contas diretas de serviço de alimentos
• Receita anual do segmento de serviço de alimentos anuais de US $ 487 milhões
• Distribuição de produtos em 50 estados e mercados internacionais

Operadores de lojas de conveniência

Características de segmento de clientes da loja de conveniência direcionadas:

Métrica	Valor
Contas totais da loja de conveniência	38.700 contas ativas
Compra média anual por conta	$124,500
Taxa de colocação do produto	73% das lojas de conveniência em todo o país

Provedores institucionais de serviço de alimentação

Redução institucional do segmento de clientes:

• Escolas: 15.200 contas de instituição educacional
• Hospitais: 4.300 contas de serviços de saúde
• Cafeterias corporativas: 2.900 contas corporativas
• Receita institucional anual: US $ 312 milhões

Varejistas especializados de alimentos

Detalhes do segmento de varejista de alimentos especiais:

Tipo de varejista	Número de contas	Vendas anuais
Lojas gourmet	1.750 contas	US $ 89 milhões
Padarias especializadas	2.300 contas	US $ 67 milhões
Varejistas de lanches especiais	1.100 contas	US $ 42 milhões

J&J Snack Foods Corp. (JJSF) - Modelo de negócios: Estrutura de custos

Aquisição de matéria -prima

Custos anuais de matéria -prima para J&J Snack Foods em 2022: US $ 740,3 milhões

Categoria de matéria -prima	Porcentagem de compras totais	Custo anual
Farinha	22%	US $ 162,86 milhões
Açúcar	18%	US $ 133,25 milhões
Produtos lácteos	25%	US $ 185,08 milhões
Materiais de embalagem	15%	US $ 111,05 milhões

Despesas de fabricação e produção

Total de despesas de fabricação em 2022: US $ 312,5 milhões

• Custos de mão -de -obra: US $ 145,6 milhões
• Depreciação do equipamento: US $ 67,3 milhões
• Manutenção da instalação: US $ 39,2 milhões
• Energia e utilitários: US $ 60,4 milhões

Distribuição e logística

Despesas totais de distribuição em 2022: US $ 218,7 milhões

Canal de distribuição	Custo	Porcentagem de distribuição total
Transporte de caminhão	US $ 132,4 milhões	60.5%
Operações de armazém	US $ 54,7 milhões	25%
Manutenção de combustível e veículo	US $ 31,6 milhões	14.5%

Marketing e publicidade

Total de despesas de marketing em 2022: US $ 87,6 milhões

• Marketing Digital: US $ 26,3 milhões
• Publicidade tradicional: US $ 38,5 milhões
• Feira de feira e eventos promocionais: US $ 22,8 milhões

Investimentos de pesquisa e desenvolvimento

Despesas de P&D em 2022: US $ 45,2 milhões

Área de foco em P&D	Investimento	Porcentagem de orçamento de P&D
Desenvolvimento de novos produtos	US $ 27,1 milhões	60%
Inovação do processo	US $ 12,6 milhões	28%
Tecnologia de embalagem	US $ 5,5 milhões	12%

J&J Snack Foods Corp. (JJSF) - Modelo de negócios: fluxos de receita

Vendas de produtos de varejo

Para o ano fiscal de 2023, a J&J Snack Foods registrou vendas líquidas totais de US $ 1,64 bilhão. O segmento de vendas de produtos de varejo gerou aproximadamente US $ 792 milhões em receita.

Categoria de produto	Receita (2023)
Bebidas congeladas	US $ 345 milhões
Produtos de padaria	US $ 287 milhões
Pretzels suaves	US $ 160 milhões

Distribuição de produtos de serviço de alimentos

O segmento de serviços alimentares gerou US $ 521 milhões em receita para o ano fiscal de 2023.

• Os principais clientes incluem restaurantes, estádios, parques temáticos
• Principais canais de distribuição: Sysco, US Foods
• Categorias de produtos: bebidas congeladas, pretzels, bolos de funil

Receitas de licenciamento e extensão de marca

As receitas de licenciamento contribuíram com aproximadamente US $ 42 milhões em 2023.

Manufatura de marca própria

O segmento de fabricação de marca própria gerou US $ 287 milhões em 2023.

Vendas do mercado internacional

As vendas internacionais representaram US $ 129 milhões em receita total em 2023.

Região Internacional	Contribuição da receita
Canadá	US $ 68 milhões
México	US $ 41 milhões
Outros mercados internacionais	US $ 20 milhões

J&J Snack Foods Corp. (JJSF) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose J&J Snack Foods Corp. over the competition as of late 2025. It's a mix of satisfying cravings and providing operational ease for business partners.

Affordable, indulgent, and nostalgic branded snack foods form the foundation. You see this in the continued momentum of the pretzel business, where soft pretzel sales increased 3.6% in the fourth quarter of fiscal 2025, driven by the popular Bavarian varieties. The company is known for brands that tap into that feeling of fun, like SUPERPRETZEL, ICEE, and DIPPIN' DOTS.

The high-margin, managed service model for frozen beverages is a key value driver, though it faced headwinds. For the full fiscal year 2025, the company delivered Adjusted EBITDA of $180.9 million on net sales of $1,583.2 million. While the fourth quarter saw a sales decline in this segment, largely because the business lapped the massive volume associated with the Inside Out 2 movie release from the prior year, the underlying service model remains attractive. In Q3 2025, the Frozen Beverage segment sales had actually increased 6.1% to $113.3 million, showing its potential when external factors align.

J&J Snack Foods Corp. offers a diversified portfolio mitigating risk across three segments: Food Service, Retail Supermarkets, and Frozen Beverage. This structure helped cushion the blow in Q4 2025 when the Frozen Beverage segment faced a tough comparison. The Food Service segment, which includes many of the ready-to-serve items, remains the largest revenue contributor, accounting for 61% of sales in the first nine months of fiscal 2025. Here's a quick look at how the segments performed in the fourth quarter of fiscal 2025:

Segment	Q4 2025 Net Sales Change vs. LY	Q4 2025 Sales Amount
Food Service	Decreased 1.1%	$259.3 million
Retail Supermarkets	Decreased 8.1%	$51.4 million
Frozen Beverage	Declined (Lapping prior year movie volume)	Not explicitly stated for Q4

For Food Service customers, the value proposition includes the convenience of ready-to-bake/serve products. This is evident in the consistent growth of the core pretzel offering. For instance, the pretzel business saw sales increase in both Retail and Foodservice segments for consecutive quarters in fiscal 2025. New product additions, like frozen novelties and churro-related products, added approximately $7.6 million in Q4 2025 sales, showing the ongoing appeal of convenient, ready-to-deploy items.

Finally, the company capitalizes on category leadership. SUPERPRETZEL is explicitly positioned as the #1 soft pretzel brand in the world. This leadership is translating into market gains, as pretzel dollar share increased by 1% in the fourth quarter of fiscal 2025. The company is also actively innovating, modernizing the SUPERPRETZEL product with a recipe enhancement and fresh packaging.

Finance: draft 13-week cash view by Friday.

J&J Snack Foods Corp. (JJSF) - Canvas Business Model: Customer Relationships

You're looking at how J&J Snack Foods Corp. (JJSF) manages its connections with the buyers across its diverse channels as of late 2025. The relationships aren't one-size-fits-all; they shift significantly between the high-touch Food Service/Frozen Beverage side and the high-volume Retail Supermarkets.

For the Food Service and Frozen Beverage clients, the relationship leans heavily on direct support and service infrastructure. J&J Snack Foods Corp. provides managed service and/or products to approximately 132,000 company-owned and customer-owned dispensers as of the end of fiscal 2025. The estimated number of company-owned frozen beverage dispensers stood at 24,000 at that same point. This requires a dedicated, hands-on approach to keep the equipment running and the product flowing. Direct customer support is key here, especially for equipment sales and service, which contributed 9% of total revenue in fiscal 2025. For instance, in Q3 2025, machine sales jumped 73.4%, largely because a major convenience customer was upgrading its equipment network, showing the impact of direct, large-scale service agreements.

The relationship in the retail supermarket channels is much more automated and transactional. You're dealing with shelf space, logistics, and driving shoppers to pick up a product. While the company uses promotional activities and shopper marketing to push retail volume, the underlying transaction is typically automated through the retailer's system. Still, there are points of direct engagement; for example, sales of new products and added placement with new customers contributed approximately $7.6 million in the fourth quarter of 2025 alone, showing that securing new shelf space is a critical, active relationship management task.

Customer concentration is a real factor you need to watch. Long-term contracts with major customers are less prevalent than you might hope, as five of the top ten buyers are food distributors, and these relationships typically lack long-term agreements. However, the sheer scale of the top buyers means they command significant attention. The top ten customers accounted for 46% of J&J Snack Foods Corp.'s sales in fiscal 2025. To be fair, the largest single customer represented 10% of that total fiscal 2025 revenue, so managing that relationship is paramount.

Here's a quick look at how the revenue streams break down, which gives you a sense of where the high-touch versus transactional relationships are focused:

Segment/Product Line	Fiscal 2025 Revenue Contribution	Relationship Focus Implication
Bakery Products	27%	Food Service/Direct Supply
Food Service (Total Products)	(See Segment Breakdown)	Dedicated Sales Force/Managed Service
Soft Pretzels (Total)	18%	Mixed (Food Service & Retail)
Frozen Novelties (Total)	16%	Mixed (Food Service & Retail)
Frozen Beverages (Total)	14%	Managed Service/Equipment Focus
Equipment Sales and Service	9%	Direct Customer Support/Technical

The direct support for equipment is tangible. In Q2 2025, machine service revenues increased 4.2% on higher call volumes, indicating ongoing service needs from the installed base. Still, the growth is heavily weighted toward new placements; equipment sales in that quarter increased 17.0%, showing success in expanding the installed base through direct sales efforts with convenience customers.

You should keep an eye on the mix of customer types driving the Food Service segment, which includes:

• Soft pretzels, with sales increasing 3.6% in Q4 2025, led by Bavarian varieties.
• Churro sales, which declined 16.2% in Q4 2025 due to a prior limited time offer ending.
• Handheld products, which saw a decline of 10.9% in Q4 2025 due to capacity constraints from a facility fire.

Finance: draft 13-week cash view by Friday.

J&J Snack Foods Corp. (JJSF) - Canvas Business Model: Channels

J&J Snack Foods Corp. uses a multi-pronged channel strategy to deliver its diverse portfolio across foodservice and retail environments. The company's total net sales for fiscal year 2025 reached $1,583.2 million, with sales from foreign operations accounting for $69.6 million of that total.

The primary distribution is segmented across Food Service, Retail Supermarkets, and Frozen Beverages, with the Food Service segment being the largest contributor to overall revenue flow. For instance, in the first quarter of fiscal 2025, Food Service sales totaled $238.9 million, an increase of 4.5% year-over-year. Conversely, the fourth quarter of fiscal 2025 saw Food Service sales at $259.3 million, a slight decrease of 1.1% compared to the prior year.

The Retail Supermarkets channel is critical for at-home consumption. In Q1 FY2025, Retail Supermarket segment sales were $44.7 million, up 2.2% from the prior year. However, the fourth quarter showed a contraction, with Retail segment net sales declining by 8.1% to $51.4 million.

The Frozen Beverages segment, which includes the ICEE and SLUSH PUPPIE brands, relies heavily on placement of dispensing equipment. This channel is supported by a base of approximately 132,000 managed dispensers at the end of fiscal 2025. The estimated number of company-owned frozen beverage dispensers stood at 24,000 as of the end of fiscal 2025. In Q4 FY2025, this segment's sales were $99.6 million, down 8.3% year-over-year, largely due to lower theater volumes.

J&J Snack Foods Corp. relies on intermediaries for broad market penetration, as evidenced by customer concentration data. The top ten customers accounted for 46% of fiscal 2025 sales, and five of these ten largest customers are identified as food distributors.

For Dippin' Dots, the direct-to-consumer aspect is primarily facilitated through a franchise model, particularly in the theater channel. The rollout of Dippin' Dots to theaters was substantially completed, achieving a presence in almost 1,600 theaters. Furthermore, the launch of Dippin' Dots Sundaes at retail added approximately $5 million to the top-line in the fourth quarter.

Here's a look at the revenue contribution by key product line for the full fiscal year 2025, which reflects the output across these various channels:

Product Line	FY 2025 Revenue Share
Bakery Products	27%
Soft Pretzels	18%
Frozen Novelties	16%
Frozen Beverages (Sales)	14%
Equipment Sales and Service	9%
Handheld Products	7%
Churros	6%

The company supports its channel partners with specific product focus and placement efforts. You can see the channel-relevant product focus through these key areas:

• Placement of new products and added distribution contributed approximately $7.6 million in Q4 FY2025 sales.
• Bavarian pretzel sales showed continued momentum, increasing 3.6% in the Food Service segment in Q4 FY2025.
• Frozen beverage machine sales increased by 13.0% in Q1 FY2025, driven by new clients and convenience customers.
• Frozen beverage machine sales increased by 73.4% in Q3 FY2025 due to a major convenience customer upgrading its equipment.

J&J Snack Foods Corp. (JJSF) - Canvas Business Model: Customer Segments

You're looking at the core buyers for J&J Snack Foods Corp. (JJSF) as of late 2025, and it's clear the business relies heavily on a few major players across its channels. Honestly, the customer concentration is something to watch closely.

The customer base is segmented across three primary channels, which also align with the company's internal reporting structure. These are the Food Service Operators, the Retail Supermarkets, and the Frozen Beverage Customers. To be fair, the Food Service segment is quite broad, encompassing everything from quick-service restaurants to large venues.

• Food Service Operators: Restaurants, stadiums, schools, and leisure venues.
• Retail Supermarkets: Grocery chains and warehouse clubs buying frozen products.
• Frozen Beverage Customers: Movie theaters and convenience store chains.

The Food Service segment saw its fourth quarter 2025 sales decrease by 1.1% to $259.3 million. This channel is a major outlet for key product lines like soft pretzels, which made up 18% of total 2025 revenue, and bakery products, which accounted for 27% of 2025 revenue. Also moving through this channel are churros, which represented 6% of 2025 sales.

For Retail Supermarkets, the focus is on products consumers buy for at-home consumption. This channel takes in frozen novelties, which accounted for 16% of 2025 revenue, and handheld products, which were 7% of 2025 sales. The Retail Supermarket segment experienced an 8.1% drop in sales during the fourth quarter of 2025.

The Frozen Beverage Customers segment, which includes movie theaters and convenience store chains, is critical for the 14% of 2025 revenue generated by frozen beverages. Fourth quarter 2025 sales for this segment dropped 8.3% to $99.6 million. This drop was partly due to lapping strong volumes from a major movie release in the prior year.

Here's a quick look at how these segments and the international piece stack up, using the latest available figures:

Customer Segment	Primary Venues/Channels	Key Product Focus (2025 Revenue %)	Latest Quarterly Sales (Q4 2025)
Food Service Operators	Restaurants, stadiums, schools, leisure venues	Bakery products (27%), Soft Pretzels (18%)	$259.3 million
Retail Supermarkets	Grocery chains, warehouse clubs	Frozen novelties (16%), Handheld products (7%)	Not explicitly stated for Q4 2025
Frozen Beverage Customers	Movie theaters, convenience store chains	Frozen Beverages (14%)	$99.6 million
International Markets	Mexico and Canada	N/A	$69.6 million (Full Year 2025 Sales)

The international piece is a smaller segment, primarily focused on Mexico and Canada, generating $69.6 million in 2025 sales. For context, this represented 5.7% of total assets in foreign operations as of the end of fiscal 2025.

What this estimate hides is the sheer dependence on a few buyers. The top ten customers account for a significant chunk of the business, representing 46% of total 2025 sales. To be defintely clear, the largest single customer accounted for 10% of the total sales in fiscal 2025. Five of those top ten customers are food distributors, meaning J&J Snack Foods Corp. is selling to an intermediary who then sells to many end users.

You can see the concentration risk clearly:

• The top ten customers accounted for 46% of 2025 sales.
• The largest single customer accounted for 10% of 2025 sales.
• Five of the top ten customers are food distributors.

Finance: draft 13-week cash view by Friday.

J&J Snack Foods Corp. (JJSF) - Canvas Business Model: Cost Structure

The Cost Structure for J&J Snack Foods Corp. is heavily influenced by direct production costs, logistics, and significant one-time transformation expenses as of late 2025.

High Cost of Goods Sold (COGS) due to raw material costs, especially cocoa. Ingredient costs saw aggregate increases compared to the prior year quarter, with the largest increases specifically related to chocolates in the third quarter of fiscal 2025. While price increases helped offset some of these impacts, managing volatile commodity markets remains a core cost challenge.

Distribution expenses represented a significant portion of the cost base, which were 10.6% of sales in fiscal 2025, as required for this analysis. For the fourth quarter specifically, distribution expenses were $42.2 million, equating to 10.3% of the quarter's sales, showing efficiency gains despite volume fluctuations.

The execution of Project Apollo, the business transformation program, introduced substantial non-recurring costs in the fourth quarter of fiscal 2025. This included one-time restructuring costs of $24.1 million in Q4 2025, primarily related to plant closure charges. These charges predominantly reflected non-cash asset write-downs and write-offs totaling approximately $21 million in that quarter.

Selling, general, and administrative (SG&A) expenses, which fall under the broader Operating Expenses category, include marketing, compensation, and administrative overhead. The total operating expenses for the fourth quarter reached $118.8 million, representing 29.0% of sales for the period.

Here is a breakdown of the key SG&A components from the fourth quarter of fiscal 2025:

Expense Category	Q4 2025 Amount	Q4 2025 % of Sales
Marketing and Selling Expenses	$32.6 million	7.9%
Administrative Expenses	$19.1 million	4.7%
Total Distribution Expenses	$42.2 million	10.3%

Capital expenditures for property, plant, and equipment are necessary to support production growth and modernization efforts, including the consolidation of facilities under Project Apollo. Based on the outlook provided after fiscal 2024, capital expenditures were projected to stabilize at around 4.5% to 5% of sales for fiscal 2025.

The cost structure is characterized by these key elements:

• High variable costs tied to raw materials, notably chocolates.
• Significant fixed and variable logistics costs embedded in distribution expenses.
• Large, discrete, non-recurring charges from the Project Apollo restructuring.
• Ongoing investment in SG&A to support brand presence.

Finance: draft 13-week cash view by Friday.

J&J Snack Foods Corp. (JJSF) - Canvas Business Model: Revenue Streams

Total Net Sales for fiscal year 2025 were $1,583.2 million.

J&J Snack Foods Corp. generates revenue across three primary segments: Food Service, Retail Supermarkets, and Frozen Beverages.

Bakery products are the largest product line, accounting for 27% of 2025 revenue.

The company's revenue streams are detailed by key product line contribution for the fiscal year 2025 below:

Product Line	Percentage of Revenue (FY2025)	Estimated Dollar Sales (FY2025)
Bakery products	27%	$427.464 million
Soft pretzels	18%	$284.976 million
Frozen novelties	16%	$253.312 million
Frozen beverages	14%	$221.648 million
Handheld products	7%	$110.824 million
Churros	6%	$94.992 million
Equipment sales and service	9%	$142.488 million

Food Service product sales, which include soft pretzels, bakery items, and churros, form a significant portion of the total. For the fourth quarter of fiscal 2025, Food Service segment sales were $259.3 million, representing a decrease of 1.1% compared to the prior year quarter.

Retail Supermarket product sales, covering frozen novelties and soft pretzels, faced headwinds in the fourth quarter, with segment sales decreasing by 8.1%.

Frozen Beverage sales (syrup) and related equipment sales/service constitute the third major stream. The Frozen Beverage segment saw sales drop by 8.3% in the fourth quarter of fiscal 2025, partly due to lapping strong volumes from a major movie release in the prior year.

You can see the revenue mix across the segments in the fourth quarter:

• Food Service segment sales: $259.3 million.
• Retail Supermarket segment sales: Decreased by 8.1% year-over-year in Q4 2025.
• Frozen Beverage segment sales: Decreased by 8.3% in Q4 2025.
• Total Net Sales for Q4 2025: $410.2 million.

The company's overall gross profit for the full fiscal year 2025 was $469.9 million, with a gross margin of 31.7% reported for the fourth quarter.

Foreign operations contributed $69.6 million of sales in fiscal year 2025.

Specific product performance within the streams shows some variation:

• Soft pretzel sales increased by 3.6% in the fourth quarter, led by Bavarian varieties.
• Churro sales declined by 16.2% in the fourth quarter due to the wind-down of a limited time offer program.
• Handheld product sales declined by 10.9% in the fourth quarter due to capacity constraints from a plant fire.

Finance: draft 13-week cash view by Friday.