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.

NEW DELHI (AP) — Indian lawmakers from the ruling coalition praised Prime Minister Narendra Modi on Tuesday for striking a deal with the U.S. that seeks to reduce tariffs on Indian goods, while the opposition raised questions on the impact on sensitive sectors such as agriculture.

President Donald Trump on Monday announced he plans to reduce import tariff on India, six months after imposing steep taxes to punish New Delhi for its unabated purchase of Russian oil that he claimed helped fuel Moscow’s war machine against Ukraine.

In a social media post, Trump said Modi has agreed to stop purchasing Russian oil, though the Indian government remained tight-lipped if this was the case.

Trump said he would bring down the tariffs from 25% to 18% in return for India agreeing to stop Russian crude purchases. New Delhi will also start to reduce its import taxes on U.S. goods to zero and buy $500 billion worth of American products, Trump said.

“This will help END THE WAR in Ukraine, which is taking place right now, with thousands of people dying each and every week!” Trump wrote in a Truth Social post Monday.

Modi posted on X that he was “delighted” by the announced tariff reduction and that Trump’s “leadership is vital for global peace, stability, and prosperity.” There has been no word beyond this from the Indian side on the scale and scope of the trade deal.

Trump didn’t categorically mention if he will remove the additional 25% tariff on India for purchase of Russian crude, but a spokesman at the U.S. Embassy in New Delhi late Monday confirmed that “the final tariff will be 18%.”

This effectively means that the penal tariff will be dropped, in a respite for Indian exporters who had been facing the heat due to a combined steep tariff as high as 50%.

India emerged as the second-largest buyer of discounted Urals, upsetting Washington. India has previously stated that its energy purchases were guided by market conditions and needs of 1.4 billion people but never made it clear if it will reduce or stop Russian purchases.

Opposition political parties are demanding Modi come clear on the trade deal as it will impact sensitive sectors such as agriculture. They disrupted the proceedings at the lower house, which was adjourned for the day.

While the U.S. has been seeking greater market access and zero tariff on almost all its exports, India has in the past opposed throwing open sectors such as agriculture and dairy, which employ a bulk of the country’s population.

U.S. Secretary of Agriculture Brooker Rollings on X thanked Trump for taking care of American farmers, saying the deal will help export more American farm products to India’s massive market, lifting prices and pumping cash into rural America.

In 2024, U.S. agriculture trade deficit with India was $1.3 billion.

Indian Trade Minister Piyush Goyal said Tuesday that sensitive sectors such as agriculture and dairy have been protected in the deal.

“India has got the best deal in comparison to the countries in the neighborhood. Going forward the relationship between India and the U.S. will strengthen further,” Goyal said. “I can assure 1.4 billion people of India that this is a deal that will protect the interests of every Indian and the sensitive sectors.”

A senior official at India’s Finance Ministry, Arvind Shrivastava, said Tuesday that the trade deal will “further expand and deepen trade between two of the largest economies of the world.”

He said it will create more opportunities for India’s labor-intensive and manufacturing sectors in the U.S. market and give impetus to mutually beneficial collaboration in high and advanced technology sectors.

An Indian trade analyst, Ajay Srivastava, cautioned India shouldn’t rush to celebrate Trump’s trade announcement.

What products are covered, what the timelines are and whether India has agreed to zero tariffs and zero nontariff barriers, especially in sensitive areas like agriculture, needs to be clarified, he added.

Reaching $500 billion worth of imports of American goods would require at least two decades as the present imports are just about $50 billion, Srivastava said.

FILE - U.S. President Donald Trump and Indian Prime Minister Narendra Modi embrace after giving a joint statement in New Delhi, India, Feb. 25, 2020. (AP Photo/Manish Swarup, File)

FILE-U.S. President Donald Trump and Indian Prime Minister Narendra Modi shake hands before their meeting at Hyderabad House, Feb. 25, 2020, in New Delhi, India. (AP Photo/Alex Brandon, file)