MOUNT LAUREL, NJ. — After the Icee brand’s success in Mexico, executives of J&J Snack Foods Corp. are planning to introduce other products to that country and other international markets.
“Down in Mexico, our operation is really centered around Icee today, and they really had a tremendous year,” said Daniel Fachner, president and chief executive officer, in a Nov. 16 earnings call to discuss fiscal-year results. “They had a record year in both sales and profits and proud of what that team is doing down there. We’re going to be able to expand on some of their business. We want to be able to maybe take some of our products that they aren’t operating with today, and expand them down there, such as Dippin’ Dots or some of our snack food items and think that there’s a real opportunity for us to grow.”
J&J Snack Foods has hired an international business development leader to identify opportunities to expand products and brands like Superpretzel, Hola! Churros and Dippin’ Dots into new markets, Mr. Fachner said.
“I don’t see that being impactful to our 2024 year,” he said of international growth. “I think it will build over a period of time, and we have enough experience to be careful about how we do that.”
In the fiscal year ended Sept. 30, J&J Snack Foods had net income of $78.91 million, equal to $4.08 per share on the common stock, which was up 67% from $47.23 million, or $2.46 per share, in the previous fiscal year. Net sales of $1.56 billion were up 13% from $1.38 billion.