FOR
IMMEDIATE RELEASE
WEDNESDAY, JULY 16, 2003
Elk
Grove Village, IL, July 16, 2003 – John
B. Sanfilippo & Son, Inc. (Nasdaq: JBSS) announced
that it has received a subpoena for the production of documents
and records from the Antitrust Division of the U.S. Department
of Justice in connection with an antitrust investigation of
the peanut shelling industry. The Company expects to cooperate
fully in the investigation.
John B. Sanfilippo & Son, Inc. is a processor, packager,
marketer and distributor of shelled and in shell nuts and sesame
sticks that are sold under a variety of private labels and under
the company's Evon's®,
Fisher®, Snack 'N Serve
Nut Bowl TM , Sunshine Country®,
Flavor Tree® and Texas
Pride TM brand names. The company
also markets and distributes a diverse product line of other
food and snack items.
The statements in this press release relating
to matters that are not historical facts are forward-looking
statements based on management’s beliefs and assumptions
using currently available information and expectations as of
the date hereof and are not guarantees of future performance.
Consequently, the company's actual results could differ materially
from the forward-looking statements. Such factors that could
cause results to differ materially from current expectations
include, but are not limited to: (i) sales activity for the
Company's products; (ii) changes in the availability and costs
of raw materials for the production of the Company's products;
(iii) fluctuations in the value of the Company's inventories
of pecans, walnuts, almonds, peanuts or other nuts due to fluctuations
in the market prices of these nuts; (iv) the Company's ability
to lessen the negative impact of competitive pressures by reducing
its selling prices and increasing sales volume while at the
same time maintaining profit margins by reducing costs; and
(v) the timing and occurrence (or nonoccurrence) of other transactions
and events which may be subject to circumstances beyond the
company's control.