John B. Sanfilippo amends facility in order to form Chinese subsidiary

By Marisa Wong

Madison, Wis., Dec. 17 - John B. Sanfilippo & Son, Inc. entered into on Monday a consent and fifth amendment to its credit agreement dated Feb. 7, 2008 with Wells Fargo Capital Finance, LLC as a lender and the administrative agent and Southwest Georgia Farm Credit, ACA as a lender, according to an 8-K filing with the Securities and Exchange Commission.

The amendment permits the company to form a Chinese subsidiary that will be wholly owned by JBSS Ventures, LLC, a wholly owned subsidiary of the company, and to invest up to $1 million in the Chinese subsidiary.

The company also amended the definition of eligible accounts in the credit agreement to increase the concentration limit for some account debtors and the definition of borrowing base to increase the aggregate amount of accounts from foreign account debtors to $5 million from $2 million.

John B. Sanfilippo is an Elgin, Ill.-based processor, manufacturer and distributor of nuts and the owner of Fisher Nuts.

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