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.

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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.

Cameron Boozer was at the center of everything for Duke this season.

The 6-foot-9, 250-pound forward proved tough enough to score through physical play. Rangy enough to space the floor and shoot from outside. Deft enough as a passer to find teammates, whether against constant double teams coming for him as the top name on every scouting report or while running the entire offense from up top.

“You just want to affect winning in whatever way you can,” Boozer said.

The high-end NBA prospect did that all season for a team that won 35 games, reached No. 1 in the AP Top 25 poll, claimed the top overall seed for March Madness and reached the NCAA Tournament's Elite Eight. Now he's The Associated Press men’s college basketball national player of the year, only the fifth freshman to earn the honor and the second in a row for a Duke program that keeps adding to the longest list of winners in the country.

“It just goes to show more about what our team has done, just because I think that really helps awards like this, having great team success,” Boozer told the AP. “It’s really just not me.”

Boozer, named unanimous first-team AP all-American last month, received 59 of 61 votes from AP Top 25 voters in results released Friday. BYU freshman AJ Dybantsa, another potential top NBA pick, received the other two votes after averaging a national-best 25.5 points per game.

Boozer, son of Duke and longtime NBA player Carlos Boozer, ranked averaged 22.5 points (ninth in Division I) and 10.2 rebounds (12th) while finishing tied for the national lead with 22 double-doubles. He also averaged 4.1 assists while posting efficient shooting numbers at 55.6% overall and 39.1% from 3-point range.

He joins fellow Blue Devils star Cooper Flagg last year, another Duke player in Zion Williamson (2019), Kentucky’s Anthony Davis (2012) and Texas star Kevin Durant (2007) as freshmen to win the AP award. Each went No. 1 or No. 2 in the NBA draft that year.

“I’m very grateful just that I’m even in those (NBA) conversations,” Boozer said. “I think a lot of people dream of being where I am. Sometimes you’ve got to take a step back and just remember that once upon a time, you were a kid dreaming to be here. So I think it’s very special.”

His coaches think the same of him.

“We’ve been fortunate enough the last two years to have two of the best freshmen to ever play in college basketball back to back,” Duke associate head coach and former Blue Devils player Chris Carrawell said. “And Cam is right up there.

Boozer is Duke's ninth AP winner, each coming from a different player. UCLA is the next closest with five winners, though that included Kareem Abdul-Jabbar (1967 and 1969) and Bill Walton (1972 and 1973) as two-time selections.

UCLA, Ohio State and Duke rival North Carolina are the only other programs with as many as three different players to win the award.

Boozer arrived at Duke alongside twin brother Cayden after the two led Miami's Columbus High to four straight state championships. By late February, the Blue Devils were starting a four-week reign atop the AP Top 25 that would carry to March Madness. Boozer — who said he looks at winning as a skill — routinely posted top performances in Duke's biggest games, including during a rugged nonconference slate.

He matched a season high with 35 points in a November win against Arkansas. He followed with 29 points against defending national champion Florida. He also had big performances at Michigan State (18 points, 15 rebounds) and flirted with a triple-double (18 points, 10 rebounds, seven assists) in a February win against Michigan.

Along the way, he pushed through bumps and shoves. He closed Sunday's season-ending loss to UConn with 27 points and his right eye swollen from a first-half blow.

“There’s no agenda other than figuring out a way to win,” Wolverines coach Dusty May said. “I’ve seen him play a number of times this year where there’s six guys in the paint, and it’s not as if he’s jumping 40, 50 inches off the floor. His desire to rebound the ball, to set physical screens, to play to his advantages, is as impressive as any freshman that I can recall.”

The other challenge was managing the scrutiny that comes from expectations for greatness. A missed shot. A turnover. The 3-for-17 shooting while battling rising frustration and Virginia shot-blocker Ugonna Onyenso in the ACC title game.

“He does a great job of flushing it and not letting it dwell on him too much,” Cayden said. “That’s something he’s always been able to do since we were younger. Obviously I talk to him when he needs me to. And I sometimes just understood that, hey, he’s going through something, give him some space for a little bit and he’ll figure it out.”

Cameron said getting away for time alone and putting down the phone helps. He points to prayer and even a recent effort to read more.

The rest of the time, though, he'll throw himself into becoming a better player. There's comfort in that routine, the results yet to fail him.

“I think just being prepared alleviates pressure," Cameron said. "Being ready for a game, watching film, working out, knowing you put your time in, being confident in yourself — I think all that takes away a lot of the pressure that people talk about. At the end of the day, pressure really is what you put on yourself.”

AP March Madness bracket: https://apnews.com/hub/ncaa-mens-bracket and coverage: https://apnews.com/hub/march-madness

Duke forward Cameron Boozer (12) reacts after scoring during the second half in the second round of the NCAA college basketball tournament against TCU, Saturday, March 21, 2026, in Greenville, S.C. (AP Photo/Brynn Anderson)

Duke guard Cayden Boozer, left, and Duke forward Cameron Boozer, right, share a laugh during a press conference ahead of a game against UConn in the Elite Eight of the NCAA college basketball tournament Saturday, March 28, 2026, in Washington. (AP Photo/Abbie Parr)

Duke forward Cameron Boozer (12) shoots over St. John's forward Bryce Hopkins (23) during the second half in the Sweet 16 of the NCAA college basketball tournament, Friday, March 27, 2026, in Washington. (AP Photo/Abbie Parr)

Duke forward Cameron Boozer (12) shoots over St. John's forward Bryce Hopkins (23) during the first half in the Sweet 16 of the NCAA college basketball tournament, Friday, March 27, 2026, in Washington. (AP Photo/Stephanie Scarbrough)