ELGIN, ILL. — John B. Sanfilippo & Son, Inc. turned in a “successful and historic fiscal 2024,” exceeding $1 billion in sales for the first time in the company’s history. Sales were lifted in part by the snack bar assets acquired from TreeHouse Foods, Inc. in September 2023.

Net income at John B. Sanfilippo in the fiscal year ended June 27 totaled $60.25 million, equal to $5.19 per share on the common stock, down 4.2% from $62.86 million, or $5.43 per share, in fiscal 2023. Net sales, meanwhile, increased 6.7% to $1.07 billion from $999.69 million.

Jeffrey Sanfilippo, chairman and chief executive officer, said the company “successfully executed a key component” of its strategic plan when it further diversified its product offerings through the acquisition, integration and optimization of the former TreeHouse bar facility and operations located in Lakeville, Minn.

“Our snack and nutrition bar offering generated approximately $131 million in net sales for the fiscal year, of which $120 million was related to the Lakeville acquisition,” Sanfilippo said during an Aug. 21 conference call with analysts. “In addition, we made substantial progress in optimizing operations in Lakeville, ahead of schedule and are excited about the expected impact it will have in our operating results in fiscal 2025 and beyond.

“Through the hard work of our team, our net sales from Lakeville operations were at the top end of our original range and dilution per share from the Lakeville acquisition.”

Looking ahead to fiscal 2025, Sanfilippo said the company is focused on accelerating volume growth by expanding on the success of its private brand portfolio, rebuilding its nuts and trail mix business through price-pack architecture and innovation, and expanding its manufacturing capabilities.

He said the company also recently leased a new 400,000-square-foot warehouse in Huntley, Ill., which is located just a few miles from its headquarters in Elgin.