J & J Snack Foods Buys 400,000 Shares From CEO

Thu. November 20, 2008; Posted: 08:01 PM

Nov 21, 2008 (financialwire.net via COMTEX) -- JJSF | Quote | Chart | News | PowerRating -- November 20, 2008 (FinancialWire) -- J & J Snack Foods Corp. (NASDAQ: JJSF | Quote | Chart | News | PowerRating) (Current Market Cap: US$483.36 Mil.) said that it has purchased 400,000 shares of its common stock from Gerald B. Shreiber, its chairman, president and chief executive officer, at a purchase price of $27.90 per share, and has subsequently retired the shares.

The purchase price which was a 6% discount to the market was determined by the board after the close of the market on November 13, at which time J & J's last sale price was $29.70 per share. The purchase was done under a million share repurchase program announced by the company in February 2008.

Including the latest purchase, the company has purchased and retired 549,433 shares under the program. After this transaction, Shreiber owns around 3.9 million of the company's 18.4 million outstanding shares.

Shreiber said he sold the shares for estate and tax planning purposes, and that the "sale is in no way a reflection of my thoughts about the company or its future, either over the short or long term."

Pennsauken, New Jersey-based J & J Snack Foods' products include Superpretzel, Pretzel Fillers and other soft pretzels, Icee, Slush Puppie and Arctic Blast frozen beverages, Luigi's, Mama Tish's and Shape Ups frozen juice bars and ices, Whole Fruit sorbet, Fruit-A-Freeze frozen fruit bars, Mary B's biscuits and dumplings, Goodkookie and others.

J & J has manufacturing facilities in New Jersey, Pennsylvania, Texas, Georgia, Missouri, Florida and California.

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For full details on J&J Snack Foods Corp (JJSF) click here. J&J Snack Foods Corp (JJSF) has Short Term PowerRatings of 5. Details on J&J Snack Foods Corp (JJSF) Short Term PowerRatings is available at This Link.

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