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Company Description

Contact Info

37 West Broad Street

Columbus, OH 43215

United States

Phone: 614-224-7141

Fax:

Lancaster Colony Corporation manufactures and markets specialty food products for the retail and foodservice markets. The primary food products the company manufactures and sells under its brand names include salad dressings and sauces marketed under the Marzetti, Marzetti Simply Dressed, Cardini’s, Girard’s, and Katherine’s Kitchen brand names; vegetable dips and fruit dips marketed under the Marzetti brand name; frozen garlic breads marketed under the New York BRAND Bakery, Mamma Bella and Mamma Bella's brand names; frozen Parkerhouse style yeast rolls and dinner rolls marketed under the Sister Schubert’s and Mary B’s brand names; premium dry egg noodles marketed under the Inn Maid and Amish Kitchen brand names; frozen specialty noodles marketed under the Reames and Aunt Vi’s brand names; croutons and salad toppings marketed under the New York BRAND Bakery, New York BRAND Bakery Texas Toast, Chatham Village, Cardini’s, Marzetti Simply Dressed, and Marzetti brand names; flatbread wraps and pizza crusts marketed under the Flatout brand name; and caviar marketed under the Romanoff brand name. The company also manufactures and sells other products pursuant to brand license agreements, including Olive Garden dressing, Jack Daniel's mustards and Hungry Girl flatbreads. A portion of the company’s sales are products sold under private label to retailers, distributors and restaurants primarily in the United States. Additionally, a small portion of the company’s sales are dressing packets, frozen specialty noodles, pasta and flatbreads sold to industrial customers for use as ingredients or components in their products. Sales are made to retail and foodservice markets. The majority of the products the company sells in the retail and foodservice channels are sold primarily through sales personnel, food brokers and distributors. It has placement of products in the U.S. grocery produce departments through its refrigerated salad dressings, vegetable and fruit dips, and croutons. The company’s flatbread products are generally placed in the deli section of the grocery store. It also has products typically marketed in grocery aisles involving shelf-stable salad dressing, slaw dressing, dry egg noodles and croutons. Within the frozen aisles of grocery retailers, the company has market positions of frozen yeast rolls, garlic breads and egg noodles. Products it sells in the foodservice channel are custom-formulated and include salad dressings, sandwich and dipping sauces, frozen breads and yeast rolls. Customers Net sales attributable to McLane Company, Inc., a wholesale distribution subsidiary of Berkshire Hathaway, Inc., totaled 19% of consolidated net sales for 2016. Net sales attributable to Wal-Mart Stores, Inc. totaled 16% of consolidated net sales for 2016. Seasonality The company’s sales are affected by seasonal fluctuations, primarily in the fiscal second quarter (year ending June 2016) and the Easter holiday season when sales of frozen retail products tend to be most pronounced. History Lancaster Colony Corporation, an Ohio corporation, was founded in 1961.

 

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Valuation LANC Industry Range
Price/Earnings 30.2x
Price/Sales 3.1x
Price/Book 7.2x
Price/Cash Flow 29.5x
TEV/Sales 3.0x
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