MARZETTI CO 8-K

What Happened Marzetti Company (MZTI) reported that it closed the previously announced acquisition of Japanese barbecue sauce brand Bachan’s, Inc., and on April 29, 2026 funded a $200 million term loan to partially finance the $400 million purchase price (subject to customary adjustments). The term loan was provided under a First Amendment to Marzetti’s credit agreement (entered March 4, 2026) with The Huntington National Bank and Bank of America as co‑syndication agents and JPMorgan Chase Bank as administrative agent.

Key Details

• Term loan funded: $200,000,000 on April 29, 2026 to partially fund the $400M acquisition; remaining purchase price paid from cash on hand.
• Credit agreement change: First Amendment increased the revolving loan from $150M to $200M.
• Term and repayment: Term loan maturity date April 29, 2031 (with a possible springing maturity of March 6, 2029 under certain conditions). Quarterly principal repayments of $2,500,000 are due on the last day of each calendar quarter, starting the last day of the first full calendar quarter after funding; remaining balance due at maturity.
• Interest: Interest accrues on the term loan and is payable on the contract’s Interest Payment Date.

Why It Matters This filing confirms Marzetti has closed the Bachan’s acquisition and established dedicated financing for half the purchase price, increasing the company’s interest‑bearing debt by $200M while also raising its revolving credit capacity. Investors should note the added scheduled principal repayments (regular $2.5M quarterly amortization) and the loan maturity that establishes a medium‑term refinancing obligation if the company does not repay early. The transaction affects Marzetti’s leverage and liquidity profile but was funded partly from cash on hand, reducing immediate cash strain. A press release about the closing was furnished as Exhibit 99.1 to the 8‑K.