Business Segment Information (Tables)

12 Months Ended

Jun. 30, 2026

Disaggregation Of Net Sales By Class Of Similar Products

The following table sets forth net sales disaggregated by class of similar products for the Retail and Foodservice segments in each of the years ended June 30:


	2026		2025		2024
Retail
Shelf-stable dressings, sauces and croutons	$	424,652	$	431,197	$	424,605
Frozen breads	393,621		380,601		351,063
Refrigerated dressings, dips and other	184,496		191,611		212,756
Total Retail net sales	$	1,002,769	$	1,003,409	$	988,424
Foodservice
Dressings and sauces	$	679,530	$	664,013	$	660,460
Frozen breads and other	227,109		227,463		222,875
Other dressings and sauces for TSA	20,415		14,237		—
Total Foodservice net sales	$	927,054	$	905,713	$	883,335
Total net sales	$	1,929,823	$	1,909,122	$	1,871,759

Disaggregation Of Foodservice Net Sales By Type Of Customer

The following table provides an additional disaggregation of Foodservice net sales by type of customer in each of the years ended June 30:


	2026		2025		2024
Foodservice
National accounts	$	714,073	$	693,583	$	692,340
Branded and other	192,566		197,893		190,995
Other dressings and sauces for TSA	20,415		14,237		—
Total Foodservice net sales	$	927,054	$	905,713	$	883,335

Summary Of Financial Information Attributable To Reportable Segments

The following tables provide financial information attributable to our reportable segments, including significant segment expenses, as well as certain amounts not allocated among our reportable segments. Net sales are predominately domestic. All intercompany transactions have been eliminated. Nonallocated corporate expenses include various expenses of a general corporate nature, transaction costs for acquisitions, costs related to certain divested or closed nonfood operations, and expenditures in 2024 for Project Ascent.


For The Year Ended June 30, 2026	Retail		Foodservice		Total
Net Sales	$	1,002,769	$	927,054	$	1,929,823
Cost of Sales	698,267		754,268
Selling, General and Administrative Expenses	100,833		40,413
Restructuring, Impairment and Other, Net (1)	—		1,044
Total Segment Operating Income	$	203,669	$	131,329	$	334,998
Nonallocated Corporate Expenses					113,355
Nonallocated Restructuring, Impairment and Other, Net (2)					(17,068)
Operating Income					$	238,711
Interest Expense					(1,763)

Other, Net					5,022
Income Before Income Taxes					$	241,970

(1)Foodservice restructuring, impairment and other in 2026 resulted from the impairment of manufacturing equipment, net of a recovery through an insurance claim.

(2)Nonallocated restructuring, impairment and other in 2026 resulted from the closure of our Milpitas, California sauce and dressing manufacturing facility, including a gain of $18.5 million on the sale of the related real property.


For The Year Ended June 30, 2025	Retail		Foodservice		Total
Net Sales	$	1,003,409	$	905,713	$	1,909,122
Cost of Sales	700,254		753,222
Selling, General and Administrative Expenses	91,460		40,912

Total Segment Operating Income	$	211,695	$	111,579	$	323,274
Nonallocated Corporate Expenses					97,855
Nonallocated Restructuring, Impairment and Other (1)					5,102
Operating Income					$	220,317
Pension Settlement Charge					(13,968)
Other, Net					7,114
Income Before Income Taxes					$	213,463

(1)Nonallocated restructuring, impairment and other in 2025 resulted from our decision to close our Milpitas, California sauce and dressing manufacturing facility, as well as our decision to transition our internal transportation fleet operation to an external dedicated carrier.


For The Year Ended June 30, 2024	Retail		Foodservice		Total
Net Sales	$	988,424	$	883,335	$	1,871,759
Cost of Sales	690,247		749,210
Selling, General and Administrative Expenses	90,517		37,031

Total Segment Operating Income	$	207,660	$	97,094	$	304,754
Nonallocated Corporate Expenses					90,517
Nonallocated Restructuring, Impairment and Other (1)					14,874
Operating Income					$	199,363

Other, Net					6,152
Income Before Income Taxes					$	205,515

(1)Nonallocated restructuring, impairment and other in 2024 resulted from our decision to exit our perimeter-of-the-store bakery product lines.

Reconciliation Of Segment Identifiable Assets And Depreciation And Amortization to Consolidated Totals

The following table sets forth reconciliations of our reportable segments’ total identifiable assets to the consolidated totals as of June 30 and our reportable segments’ total depreciation and amortization expenses to the consolidated totals for each of the years ended June 30:


	2026		2025		2024











Identifiable Assets (1)
Retail & Foodservice (2)	$	1,547,713	$	1,083,381	$	1,015,454
Corporate	57,307		191,343		191,477
Total	$	1,605,020	$	1,274,724	$	1,206,931




Depreciation and Amortization
Retail & Foodservice (2)	$	65,243	$	57,095	$	51,386
Corporate	6,203		5,073		4,510
Total	$	71,446	$	62,168	$	55,896

(1)Long-lived assets are predominately domestic. Retail and Foodservice identifiable assets include those assets used in our operations and other intangible assets allocated to purchased businesses. The increase in Retail and Foodservice identifiable assets from June 30, 2025 to June 30, 2026 reflects the acquisition of Bachan’s. The increase in Retail and Foodservice identifiable assets from June 30, 2024 to June 30, 2025 reflects the acquisition of the Atlanta plant. Corporate assets consist principally of cash and equivalents and deferred software costs. The decrease in Corporate assets from June 30, 2025 to June 30, 2026 reflects lower cash and equivalents as the Bachan’s acquisition was partially funded with cash on hand.

(2)As discussed above, we do not present identifiable assets or depreciation and amortization separately by reportable segment.

Net Sales Attributed To Significant Customer Relationships

Our relationship with Chick-fil-A, Inc. (“Chick-fil-A”), one of our national chain restaurant accounts, represents a significant portion of our consolidated net sales. In Foodservice, we primarily supply Chick-fil-A indirectly through multiple distributors with the remainder supplied directly to Chick-fil-A. None of these individual customers amounts to more than 10% of our consolidated net sales. Chick-fil-A is also a significant contributor to our Retail sales as we sell their sauce and dressing products into the retail channel through an exclusive license agreement. Retail segment net sales attributed to Walmart also represent a significant portion of our consolidated net sales. Total net sales attributed to Chick-fil-A, including the Retail sales resulting from the exclusive license agreement and the Foodservice sales, and Retail segment net sales attributed to Walmart for each of the years ended June 30 were as follows:


	2026			2025			2024
Net sales attributed to Chick-fil-A	$	575,681		$	548,222		$	519,818
As a percentage of consolidated net sales	30		%	29		%	28		%
Net sales attributed to Walmart (1)	$	353,651		$	367,274		$	338,764
As a percentage of consolidated net sales (1)	18		%	19		%	18		%

(1)Net sales attributed to Walmart include sales of Chick-fil-A products that are also presented in net sales attributed to Chick-fil-A.