February 26, 2015 6:33 PM ET

Food Products

Company Overview of BEF Foods, Inc.

Company Overview

BEF Foods, Inc. produces and distributes retail pork sausage, refrigerated side dishes, and frozen convenience and foodservice items. The company was incorporated in 2011 and is based in Columbus, Ohio. BEF Foods, Inc. operates as a subsidiary of Bob Evans Farms, LLC.

3776 South High Street

Columbus, OH 43207

United States

Founded in 2011

Phone:

614-491-2225

Key Executives for BEF Foods, Inc.

President
Age: 55
Compensation as of Fiscal Year 2014.

BEF Foods, Inc. Key Developments

BEF Foods, Inc. expected to report Q3 2015 results on February 26, 2015. This event was calculated by Capital IQ (Created on February 20, 2015).

BEF Foods, Inc. expected to report Q3 2015 results on February 26, 2015. This event was calculated by Capital IQ (Created on February 20, 2015).

Bob Foods Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended October 24, 2014; Provides Sales Guidance for Fiscal 2015

Bob Foods reported unaudited earnings results for the second quarter and six months ended October 24, 2014. For the quarter, the company reported net sales of $92,128,000 against $92,100,000 for the same period in the last year, as a 9.0% increase in side-dish volume was offset by lower sausage sales. Total non-GAAP operating income was $3,246,000 against $637,000 for the same period in the last year. The primary drivers of the $2.6 million increase were: $2.5 million of favorability resulting primarily from lower advertising expenses and reduced headcount; $1.9 million of cost of goods sold favorability resulting from the effect of a higher sales mix of non-sausage products net of increased sow and trim costs ($0.8 million) and increased freight-in costs to plants; $0.2 million of other operating expense favorability from reduced insurance costs and repair and maintenance expenses; partially offset by $1.1 million of incremental depreciation as a result of plant expansions in the prior year, and $0.8 million of increased labor costs also related to the plant expansions. Operating income was $2,300,000 against operating loss of $3,017,000 for the same period in the last year. For the six months, the company reported net sales of $178,317,000 against $176,998,000 for the same period in the last year. Total non-GAAP operating income was $2,826,000 against $7,342,000 for the same period in the last year. Non-GAAP net income from continuing operations was $2,826,000 against $7,342,000 for the same period in the last year. Operating income was $649,000 against $2,500,000 for the same period in the last year. The company expects net sales of $388 to $398 million for the fiscal 2015.

Sandell Eyeing BEF Foods

Sandell Asset Management Corp. is interested in acquiring Bob Evans Farms, Inc.’s (NasdaqGS:BOBE) unit. Sandell has disclosed that it has been contacted by a private equity firm interested in discussing a transaction involving Bob Evans' BEF Foods, Inc. It added, “Certain of these firms have also indicated their interest in providing financing for a transaction that may result in a change of control or acquisition of the Issuer.”Sandell also said that it may engage in discussions with management of Bobe Evans, as well as its board and other stockholders, with respect to these third party expressions of interest.

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