Filing Flows › Sanfilippo John B & Son (JBSS) › Takeover & LBO
Is Sanfilippo John B & Son (JBSS) a takeover target?
A leveraged buyout at today's price plus 30% ($87.57 a share) would return a loss of about 19% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $41.89 a share (−38% against today's $67.36). Historically 3.6% of companies with its figures were bought within a year (0.71× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $87.57 | today's $67.36 plus 30% |
| × shares | 11.8 million | |
| = Equity value | $1.0B | |
| + Debt refinanced | $49.8M | |
| − Cash | $1.1M | |
| = Enterprise value | $1.1B | 9.9× EBITDA of $110M |
| Fees | $21.7M | 2% of the price |
| New debt | $603M | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $503M | 45% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $1.2B | $113M | $46.2M | −$37.1M | $641M |
| Year 2 | $1.2B | $117M | $49.0M | −$39.3M | $680M |
| Year 3 | $1.3B | $120M | $52.0M | −$41.6M | $721M |
| Year 4 | $1.3B | $124M | $55.2M | −$44.0M | $765M |
| Year 5 | $1.4B | $128M | $58.6M | −$46.5M | $812M |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 7.7× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $984M | |
| − Debt left | $812M | |
| = Buyer's equity | $172M | |
| Money multiple | 0.34× | on $503M put in |
| Buyer's yearly return (IRR) | −19.3% |
Price against return
What the buyer makes at other premiums over today's $67.36; the IRR reaches 20% at $41.89 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $74.10 | −12.6% |
| 20% | $80.83 | −16.4% |
| 30% | $87.57 | −19.3% |
| 40% | $94.30 | −21.7% |
| 50% | $101.04 | −23.7% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $1.2B | |
| EBITDA, last 12 months | $110M | 9.4% of revenue |
| Depreciation and amortization | $28.2M | |
| Capital spending | $88.1M | |
| Debt | $49.8M | |
| Cash | $1.1M | |
| Share price | $67.36 | on Oct 12, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows 3.1% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 25% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Sanfilippo John B & Son would cost about $89.25 a share, $1.1B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $80.83 | $957M |
| Median | 32.5% | $89.25 | $1.1B |
| High end (a quarter paid more) | 51.8% | $102.25 | $1.2B |
The odds, from history
Historically 3.6% of companies with its figures were bought within a year (0.71× the average). Its figures put it in decile 3 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
Sanfilippo John B & Son's latest quarter
Sanfilippo John B & Son, Q1 FY27: revenue $288M (-4% year over year), operating margin 6.7%, net earnings $13.2M, operating cash flow $10.6M. The chart follows the revenue to costs, profit and cash.
Questions
Is Sanfilippo John B & Son being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy Sanfilippo John B & Son?
A leveraged buyout at today's price plus 30% ($87.57 a share) would return a loss of about 19% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $41.89 a share (−38% against today's $67.36).
What would a takeover of Sanfilippo John B & Son cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, Sanfilippo John B & Son would cost about $89.25 a share, $1.1B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.