Cracker Barrel and John Morrell Food Group Announce Multi-Year Licensing Agreement
Initiative will bring select Cracker Barrel products to consumers in
new retail channels
LEBANON, Tenn.--(BUSINESS WIRE)--
In a move that will extend the Cracker Barrel Old Country Store® brand
beyond its physical stores, Cracker Barrel (Nasdaq: CBRL) and the John
Morrell Food Group, a subsidiary of Smithfield Foods (NYSE: SFD), today
announced a multi-year licensing agreement that will make select Cracker
Barrel product categories available to consumers in new retail channels.
This agreement is a result of Cracker Barrel's previously announced
strategic decision to extend its powerful brand through a licensing
initiative and its online presence.
The agreement will bring products consistent with the Cracker Barrel
experience such as ham, bacon, assorted lunch meats, glazes, jerky and
summer sausage to a wide range of retail outlets including grocery and
club stores and mass merchandisers. These will be high-quality,
delicious products that consumers will be able to purchase as part of
their regular shopping experiences and enjoy in their own homes.
"We are pleased to partner with the John Morrell Food Group, a leader in
consumer meat products with an outstanding reputation for quality and
service," said Sandra B. Cochran, President and Chief Executive Officer
of Cracker Barrel. "We welcome this opportunity to extend our brand
beyond our physical stores, which is one component of our strategic plan
which also includes enhancing our operating core, and expanding our
footprint by adding additional stores."
"We are thrilled to join forces with Cracker Barrel Old Country Store
and bring an outstanding brand with a loyal consumer following into the
retail channel," said John Pauley, John Morrell Food Group Executive
Vice President of Sales and Marketing. "Our strength in producing and
marketing the highest quality meat products complements Cracker Barrel
Old Country Store's expertise and leadership in the restaurant industry.
This will be a win for Cracker Barrel guests, retail shoppers and our
retail trading partners."
Cracker Barrel does not expect this agreement to have a material effect
on its financial results in fiscal year 2013. Along with the potential
contribution to profitability in future years, Cracker Barrel expects to
benefit from the increased visibility of the brand outside of its own
About Cracker Barrel
Cracker Barrel Old Country Store provides a friendly home-away-from-home
in its old country stores and restaurants. Guests are cared for like
family while relaxing and enjoying real home-style food and shopping
that's surprisingly unique, genuinely fun and reminiscent of America's
country heritage…all at a fair price. The restaurant serves up
delicious, home-style country food such as meatloaf and homemade chicken
n' dumplins as well as its made from scratch biscuits using an old
family recipe. The authentic old country retail store is fun to shop and
offers unique gifts and self-indulgences.
Cracker Barrel Old Country Store, Inc. (Nasdaq: CBRL) was established in
1969 in Lebanon, Tenn. and operates 621 company-owned locations in 42
states. Every Cracker Barrel unit is open seven days a week with hours
Sunday through Thursday, 6 a.m. - 10 p.m., and Friday and Saturday, 6
a.m. - 11 p.m. For more information, visit crackerbarrel.com.
Important Additional Information
Cracker Barrel Old Country Store, Inc. (the "Company") urges caution in
considering current trends and earnings guidance disclosed in this press
release. Except for historical information, matters discussed in this
press release may be forward looking statements that involve risks,
uncertainties and other factors that may cause actual results and
performance of the Company to differ materially from those expressed or
implied in this release. All forward-looking information is provided
pursuant to the safe harbor established under the Private Securities
Litigation Reform Act of 1995. Any forward-looking statement made by us
herein speaks only as of the date on which made. We expressly disclaim
any intent or obligation to update or revise any forward-looking
statement contained herein.
More detailed information on risks, uncertainties, and other factors is
provided in the Company's filings with the U.S. Securities and Exchange
Commission (the "SEC"), press releases and other communications.
About John Morrell Food Group
With over a century and a half of experience, John Morrell Food Group
brands have become respected and well known for providing
premium-quality meat products to families across the United States. With
products ranging from lunchmeat and franks to smoked sausage, bacon and
pepperoni, the John Morrell Food Group is an important part of
consumers' mealtimes. The John Morrell Food Group offers several
national and regional brands including Armour®, Eckrich®, John Morrell®,
Curly's®, Patrick Cudahy®, Carando®, Healthy Ones®, Margherita®
Kretschmar® and LunchMakers®.
For Cracker Barrel
Lawrence E. Hyatt,
Senior Vice President and Chief Financial Officer
John Morrell Food Group
Smithfield Foods, Inc.
Vice President of Investor Relations and Corporate
Julie Davis, 615-443-9115
John Morrell Food Group
Jeff Dennison, 704-766-9061
Media and Communications
Source: Cracker Barrel Old Country Store
News Provided by Acquire Media
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