The Marzetti Company Announces Agreement to Acquire Bachan’s, Inc.

WESTERVILLE, Ohio--(BUSINESS WIRE)--Feb 3, 2026--

The Marzetti Company (Nasdaq: MZTI) announced today that it has entered into a definitive agreement to acquire Bachan’s, Inc., the fast-growing Japanese Barbecue Sauce brand known for its delicious, authentic, clean-label products. The transaction reinforces the company’s expanding position in the sauce category and is expected to provide additional opportunities for growth through our retail and foodservice distribution network, the capabilities of our supply chain, and brand support from our marketing capabilities and culinary expertise. Bachan’s net sales for the twelve months ended December 31, 2025, were approximately $87 million. The purchase price for the transaction is $400 million, subject to customary adjustments, and we intend to fund the acquisition with cash on hand and additional financing. The transaction is expected to close prior to our fiscal year end date of June 30, 2026, subject to regulatory approval and other customary closing conditions.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260202465403/en/

David A. Ciesinski, The Marzetti Company’s CEO, commented, “We are very excited to share our plans to acquire Bachan’s as a strategic extension of our portfolio that will further strengthen our position in the dynamic condiment and sauce category. Bachan’s created its original Japanese Barbecue Sauce from a multi-generational family recipe passed down to its founder, Justin Gill, who has done a tremendous job scaling the brand. Over time, we intend to further broaden distribution, support continued product innovation, and thoughtfully extend the brand into new channels and adjacent categories.”

“This transaction will reinforce Marzetti’s position as a global leader in sauces by adding a premium brand that is exceptionally well aligned with evolving consumer preferences for global flavors and better-for-you products. We look forward to welcoming the Bachan’s team to the Marzetti family!”

Justin Gill, founder and CEO of Bachan’s, remarked, “Over the last several years, building Bachan’s has allowed me to fulfill my childhood dream of bringing my family’s sauce to market. My team and I have been working incredibly hard to deliver on this vision of building the first iconic Japanese-American flavor brand, and I am honored to partner with The Marzetti Company for the next stage of making my vision for Bachan’s a reality.”

“I am not only impressed by Marzetti’s incredible history, portfolio of brands, capabilities and mission – but what has left the most meaningful impression on me is who they are as people. Bachan’s is more than just a business or a brand to me - it is part of my family’s legacy and our brand values are my own personal values, instilled in me by my family. Marzetti is an organization that deeply shares these values, and I am confident they will honor them in this next chapter for Bachan’s. My team and I could not be more excited for our future with Marzetti as our strategic partner and as the new home for Bachan’s.”

About The Marzetti Company

The Marzetti Company is a manufacturer and marketer of specialty food products for the retail and foodservice channels. Our retail brands and products include Marzetti ® dressings and dips; New York Bakery™ garlic breads; and Sister Schubert’s ® dinner rolls in addition to a growing portfolio of exclusive license agreements that includes Olive Garden ® dressings; Chick-fil-A ® sauces and dressings; Buffalo Wild Wings ® sauces; Arby’s ® sauces; Subway ® sauces; and Texas Roadhouse ® steak sauces and dinner rolls. In the foodservice channel, we supply sauces, dressings, breads and pasta to many of the top restaurant chains in the United States.

About Bachan’s

Bachan’s is a leading Japanese-American flavor brand led by founder and CEO Justin Gill. Launched in 2019 and headquartered in Sebastopol, CA, Bachan’s was born from Justin’s multi-generational family barbecue sauce recipe that was passed down to him by his bachan (grandma). Growing up, this sweet and savory sauce was always the centerpiece of family meals and gatherings. Now, this original family recipe has inspired the bold, fresh, umami flavor and clean ingredients in all of Bachan’s sauces, and Bachan’s is honored to continue this tradition. Bachan’s barbecue sauces and dipping sauces are made in the way you would for your own family with high quality, non-GMO ingredients and minimal processing. To learn more, visit www.bachans.com or follow Bachan’s on X, Facebook, Instagram or TikTok.

Transaction Advisors

Goldman Sachs & Co. LLC acted as exclusive financial advisor to The Marzetti Company and King & Spalding LLP acted as legal counsel. Centerview Partners LLC acted as exclusive financial advisor to Bachan’s, Inc. and Wachtell, Lipton, Rosen & Katz LLP served as legal counsel.

Forward-Looking Statements

We desire to take advantage of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 (the “PSLRA”). This news release contains various “forward-looking statements” within the meaning of the PSLRA and other applicable securities laws. Such statements can be identified by the use of the forward-looking words “anticipate,” “estimate,” “project,” “believe,” “intend,” “plan,” “expect,” “hope” or similar words. These statements discuss future expectations; contain projections regarding future developments, operations or financial conditions; or state other forward-looking information. Such statements are based upon assumptions and assessments made by us in light of our experience and perception of historical trends, current conditions, expected future developments; and other factors we believe to be appropriate. These forward-looking statements involve various important risks, uncertainties and other factors, many of which are beyond our control, which could cause our actual results to differ materially from those expressed in the forward-looking statements. Some of the key factors that could cause actual results to differ materially from those expressed in the forward-looking statements include:

Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update such forward-looking statements, except as required by law. Management believes these forward-looking statements to be reasonable; however, you should not place undue reliance on statements that are based on current expectations.

THE MARZETTI COMPANY ANNOUNCES AGREEMENT TO ACQUIRE BACHAN’S, INC.

PROVIDENCE, R.I. (AP) — World Cup fans in a growing number of U.S. cities won't have an issue finding a well-poured pint to go with their late-night match.

State leaders across the U.S. are signing off on extending bar and restaurant hours during the world’s most-watched sporting event. They want to help businesses and improve fan experiences, particularly for those who may have been priced out of tickets. Others see the move as a last-ditch effort to boost sales as expectations for a World Cup economic boon have dampened.

So far, Kansas, Missouri, New Jersey, Pennsylvania, Rhode Island and Washington — states either hosting World Cup matches or adjacent to the activity — have all approved various measures to extend hours for alcohol sales during the tournament. Similar proposals are being considered in New York and Massachusetts.

The changes mean that closing time won’t come until 4 a.m. in Philadelphia during the World Cup and America 250 celebrations. In Kansas City, some bars can stay open as late as 5 a.m.

Many of these changes are dependent on municipality approval, and no business would be required to extend business hours. But for the hospitality industry, already struggling under waning sales and inflation, the option to stay open later is welcomed.

Mark Prinzinger, owner of Lion Sports Bar in Philadelphia, described watching soccer with fans from all over the world as a “magical experience." Now that he has the option to keep his bar open two hours longer, he’s hired extra staff, streamlined the menus and planned late-night programming.

“People want to have a beer with other soccer fans and the great thing about the World Cup is that it brings people together from all over the world into one place to watch a sport that everybody loves,” he said.

Prinzinger and other bar, restaurant and nightlife venues in Pennsylvania will be allowed to move their closing times from 2 a.m. until 4 a.m. during the World Cup and the America 250 anniversary celebrations, between June 11 and July 20. Gov. Josh Shapiro approved the legislation by releasing a video showing him cracking open a beer, signing off the social media post with a cheeky warning to the City of Brotherly Love's reputation for getting rowdy: “Celebrate responsibly, Philly.”

With more hours available to drink, some critics have raised concerns about public safety and potential strain on law enforcement even as the effort has received bipartisan support from lawmakers.

In Kansas City, Missouri, Mayor Quinton Lucas initially stated that his city “doesn't need bars operating 23 hours” during the World Cup and joked, “Worry not, if you want to drink a ton, bars can open quite early.”

Yet bar owners bristle under such opposition, saying that most businesses prioritize training staff to prevent patrons from being overserved.

“Just because people are hanging out at the bar watching a soccer game doesn’t mean they’re getting blitzed,” Prinzinger said. “In fact, I would say it’s completely the opposite. I think people want to watch the game. People want to be engaged.”

Rhode Island Rep. Teresa Tanzi agreed.

“Not everybody that’s going to walk into a place is going to be chugging drinks and getting loaded,” Tanzi, a Democrat, said earlier this month on the House floor. “There are going to be families who are going to want a cheeseburger, an American cheeseburger, and a Coca-Cola."

Rhode Island, which is closer than Boston is to World Cup matches host Gillette Stadium, is weighing whether to extend alcohol sales to 3 a.m. and closing times to 4 a.m. Currently, last call in the smallest U.S. state is 1 a.m., with some exceptions for its capital city of Providence.

Even Lucas relented, eventually submitting a plan allowing Kansas City restaurants and bars to remain open until 3 a.m., and certain establishments to remain open until 5 a.m. if they submit a security plan to the police department. Currently, alcohol sales can generally be made between 6 a.m. through 1:30 a.m.

The extended hours aren't entirely a U.S. trend. Pubs in England and Wales will be able to stay open as late as 2 a.m. if the English or Scottish teams are playing in the knockout stages after the U.K. government relaxed its licensing rules.

In Scotland, which has its own semiautonomous government, local authorities can allow pubs to stay open until 30 minutes after matches end.

According to the World Cup schedule, a majority of games will be held from early afternoon through early evening. But a handful start later, with four games starting at midnight and eight games starting at 10 p.m. for those watching in the Eastern time zone.

Just how big of a demand there will be for late-night bites and drinks is somewhat unknown. In the U.S., consumer habits have shifted drastically ever since the COVID-19 pandemic, with more people choosing to go out earlier in the day and spending less overall, said David Henkes, senior principal at Technomic, a firm that monitors restaurant and food industry trends.

“It’s so hard to stay open late night or overnight just because it’s hard to find labor,” Henkes said. “I applaud the effort to give restaurants an opportunity to earn more revenue, but I’m not sure that there’s going to be significant enough demand for it to make sense for a lot of operators to do so.”

Associated Press writer Brian Melley contributed from London.

AP World Cup: https://apnews.com/hub/fifa-world-cup

Lion Sports Bar owner Mark Prinzinger poses behind the bar as fans watch a Champion league soccer match between Arsenal and Paris Saint-Germain, Saturday, May 30, 2026, in Philadelphia. (AP Photo/Tassanee Vejpongsa)

Fans arrive to watch a Champion league soccer match between Arsenal and Paris Saint-Germain at the Lion Sports Bar, Saturday, May 30, 2026, in Philadelphia. (AP Photo/Tassanee Vejpongsa)

Fans watch a Champion league soccer match between Arsenal and Paris Saint-Germain at the Lion Sports Bar, Saturday, May 30, 2026, in Philadelphia. (AP Photo/Tassanee Vejpongsa)

Fans watch a Champion league soccer match between Arsenal and Paris Saint-Germain at the Lion Sports Bar, Saturday, May 30, 2026, in Philadelphia. (AP Photo/Tassanee Vejpongsa)

Fans watch a Champion league soccer match between Arsenal and Paris Saint-Germain at the Lion Sports Bar, Saturday, May 30, 2026, in Philadelphia. (AP Photo/Tassanee Vejpongsa)