J&J Snack Foods extends credit line, updates terms

J & J Snack Foods Corp. entered into Amendment No. 2 to its Second Amended and Restated Credit Agreement, extending the revolving credit facility maturity to June 5, 2031.

Rhea-AI Filing Summary

J & J Snack Foods Corp. entered into Amendment No. 2 to its Second Amended and Restated Credit Agreement, extending the revolving credit facility maturity to June 5, 2031. The amendment allows the borrowers to increase the facility by up to the greater of $200,000,000 or their Consolidated EBITDA, subject to conditions.

The amendment also adjusts pricing, adds a new top-tier margin level, and raises the maximum permitted Consolidated Net Leverage Ratio to 3.50:1.00, with a temporary increase up to 4.00:1.00 after qualifying acquisitions over $50,000,000. The cross-default and judgment thresholds rise from $10,000,000 to $30,000,000. Separately, Senior Vice President, General Counsel & Secretary Michael A. Pollner has tendered his resignation effective June 30, 2026, and the company has begun a search for his successor.

Insights

Credit and capital-structure analyst

Amended credit facility extends duration and modestly relaxes leverage terms.

The company has extended its revolving credit facility to June 5, 2031 and gained an option to increase capacity by up to the greater of $200,000,000 or Consolidated EBITDA. This provides a longer-dated liquidity backstop and additional committed financing flexibility within lender-approved limits.

Key covenants are loosened but remain structured. The maximum permitted Consolidated Net Leverage Ratio rises to 3.50%-equivalent (3.50:1.00), with a temporary step-up to 4.00:1.00 following qualifying Permitted Acquisitions over $50,000,000. Cross-default and judgment thresholds move from $10,000,000 to $30,000,000, slightly widening tolerance for external debt and legal exposures.

These changes may support future acquisition financing and balance-sheet management, while the resignation of the Senior Vice President, General Counsel & Secretary effective June 30, 2026 introduces a governance transition. Subsequent disclosures may give more detail on any strategic use of the expanded debt capacity.

8-K Event Classification

4 items: 1.01, 2.03, 5.02, 9.01

4 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

Credit facility maturity: June 5, 2031 Upsize option: Greater of $200,000,000 or Consolidated EBITDA Max leverage ratio: 3.50:1.00 +5 more

8 metrics

Credit facility maturity June 5, 2031 New maturity date of revolving credit facility

Upsize option Greater of $200,000,000 or Consolidated EBITDA Maximum aggregate increase to credit facility

Max leverage ratio 3.50:1.00 Revised maximum Consolidated Net Leverage Ratio

Temporary leverage cap after acquisitions 4.00:1.00 Cap after Permitted Acquisition over $50,000,000

Acquisition threshold $50,000,000 Minimum consideration for Permitted Acquisition to trigger leverage increase

Cross-default threshold $30,000,000 Revised principal amount of other debt or judgments triggering Event of Default

Resignation effective date June 30, 2026 Effective date of General Counsel’s resignation

Old cross-default threshold $10,000,000 Prior level for other debt and judgment Events of Default

Key Terms

Amendment No. 2, Consolidated Net Leverage Ratio, Permitted Acquisition, Event of Default, +2 more

6 terms

Amendment No. 2 financial

"entered into Amendment No. 2 to Second Amended and Restated Credit Agreement"

Consolidated Net Leverage Ratio financial

"revises the Consolidated Net Leverage Ratio covenant in the Credit Agreement"

The consolidated net leverage ratio measures how much debt a company carries compared with the cash it generates from core operations, calculated by taking total borrowings minus cash and dividing by annual operating profit. Like comparing a household’s mortgage balance to its yearly income, it tells investors how many years of operating profit would be needed to pay off net debt and thus gauges financial risk, flexibility to invest, and capacity to weather downturns.

Permitted Acquisition financial

"following the consummation of a Permitted Acquisition for which the consideration paid"

Event of Default financial

"would constitute an Event of Default under the Credit Agreement"

An event of default is a specific breach of a loan or bond agreement—such as missed payments or breaking agreed rules—that gives lenders the legal right to act, for example by demanding immediate repayment, seizing collateral, or accelerating other obligations. For investors, it’s a red flag because it can sharply reduce a company’s ability to operate or raise money, like a car lender repossessing a vehicle after missed payments, and often leads to falling share or bond prices.

cross default financial

"principal amount of other Debt Instruments that can trigger a cross default"

revolving credit facility financial

"extends the maturity date of the revolving credit facility"

A revolving credit facility is a type of loan that a business can borrow from whenever it needs money, up to a set limit. It’s like having a credit card for companies—allowing them to borrow, pay back, and borrow again as needed, providing flexibility for managing cash flow or funding short-term expenses.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What change did JJSF make to its credit facility in June 2026?

J & J Snack Foods extended the maturity of its revolving credit facility to June 5, 2031 and gained the option to increase its size by up to the greater of $200,000,000 or Consolidated EBITDA, subject to conditions and lender approval.

How did JJSF’s leverage covenants change under Amendment No. 2?

The maximum permitted Consolidated Net Leverage Ratio increased from 3.00:1.00 to 3.50:1.00. After a qualifying Permitted Acquisition over $50,000,000, the company may elect a temporary increase of 0.50:1.00, up to a 4.00:1.00 cap for four consecutive quarters.

Can JJSF expand its revolving credit facility further under the new amendment?

Yes. The borrowers may increase the size of the credit facility by an amount not exceeding, in aggregate, the greater of $200,000,000 or their Consolidated EBITDA, and may exercise this expansion option up to two times before the June 2031 maturity date.

What happened to JJSF’s cross-default and judgment thresholds?

Amendment No. 2 raised the principal amount of other Debt Instruments and judgments that can trigger an Event of Default from $10,000,000 to $30,000,000. This higher threshold applies to both cross-defaults and qualifying judgments against any borrower under the credit agreement.

Which executive at JJSF is resigning and when is it effective?

Senior Vice President, General Counsel & Secretary Michael A. Pollner submitted his resignation effective June 30, 2026. J & J Snack Foods has started a search process to identify and appoint his successor to the general counsel and corporate secretary roles.

How many times can JJSF use the leverage ratio increase after acquisitions?

The borrowers may exercise the Consolidated Net Leverage Ratio Increase up to two times before the June 2031 maturity. Each election follows a Permitted Acquisition over $50,000,000 and applies for the four consecutive fiscal quarters immediately after closing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/10/2026 - 05:00 PM Learn about SEC filing dates

false 0000785956 0000785956 2026-06-04 2026-06-04

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): June 4, 2026

J&J SNACK FOODS CORP.

(Exact name of registrant as specified in its charter)

New Jersey	000-14616	22-1935537
(State or Other	(Commission	(I.R.S. Employer
Jurisdiction of	File Number)	Identification No.)
Incorporation)

350 Fellowship Road, Mt. Laurel, New Jersey08054

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (856) 665-9533

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Exchange Act:

Title of Each Class	Trading Symbol(s)	Name of Each Exchange on Which Registered
Common Stock, no par value	JJSF	The NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

ITEM 1.01. Entry into a Material Definitive Agreement.

On June 5, 2026, J & J Snack Foods Corp. (the “Company”) entered into Amendment No. 2 to Second Amended and Restated Credit Agreement (“Amendment No. 2”) with Citizens Bank, N.A., as Administrative Agent, and certain lenders and other parties thereto. Amendment No. 2 amends the Second Amended and Restated Credit Agreement, dated as of December 16, 2021 (as previously amended), among the Company and certain of its subsidiaries, as borrowers (collectively, the “Borrowers”), Citizens Bank, N.A., as Administrative Agent, and certain lenders and other parties thereto (the “Credit Agreement”). Capitalized terms used, but not defined, in this Current Report on Form 8-K shall have the meanings ascribed to them in the Credit Agreement or Amendment No. 2, as applicable.

Amendment No. 2 extends the maturity date of the revolving credit facility (the “Credit Facility”) established under the Credit Agreement to June 5, 2031 (the “Maturity Date”). Amendment No. 2 also provides the Borrowers with an option, from time to time (but not to exceed two increases prior to the Maturity Date), to increase the size of the Credit Facility by an amount not to exceed in the aggregate the greater of (x) $200,000,000 or (y) the Consolidated EBITDA (as defined in the Credit Agreement, as amended by Amendment No. 2) of the Borrowers, subject to certain conditions. Borrowings may be repaid at any time but no later than the Maturity Date, and the Company may terminate or reduce the Credit Facility at any time.

Amendment No. 2 also revises the pricing grid used to determine the Applicable Margin. The revisions expand the grid from four to five pricing levels, adding a new top-tier Pricing Level I applicable when the Consolidated Net Leverage Ratio exceeds 3.00:1.00. At this level, the ABR Margin is 1.00%, the SOFR Margin and L/C Participation Fee is 2.00%, and the Unused Fee is 0.30%.

Amendment No. 2 revises the Consolidated Net Leverage Ratio covenant in the Credit Agreement by increasing the maximum permitted Consolidated Net Leverage Ratio from 3.00:1.00 to 3.50:1.00 as of the end of any fiscal quarter. However, following the consummation of a Permitted Acquisition for which the consideration paid by the Borrowers exceeds $50,000,000, the Borrowers may elect to increase the maximum permitted Consolidated Net Leverage Ratio by 0.50:1.00 for the four consecutive fiscal quarters ending immediately after the consummation of such Permitted Acquisition (the “Consolidated Net Leverage Ratio Increase”), subject to a cap of 4.00:1.00 (increased from 3.50:1.00). Following the expiration of any such increase period, the maximum permitted Consolidated Net Leverage Ratio must return to 3.50:1.00 (previously 3.00:1.00) for at least one full fiscal quarter. The Consolidated Net Leverage Ratio Increase may be exercised by the Borrowers two times prior to the Maturity Date.

Amendment No. 2 increases the threshold for the principal amount of other Debt Instruments that can trigger a cross default, as well as judgments rendered against any Borrower, from $10,000,000 to $30,000,000, which in each case would constitute an Event of Default under the Credit Agreement.

The foregoing description of Amendment No. 2 is a summary and is qualified in its entirety by reference to the full text of Amendment No. 2, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference into this Item 1.01 in its entirety.

Item 2.03. Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth above under Item 1.01 is hereby incorporated by reference into this Item 2.03.

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers.

On June 4, 2026, Michael A. Pollner, Senior Vice President, General Counsel & Secretary of J & J Snack Foods Corp. (the “Company”), provided a notice of resignation to the Company, effective June 30, 2026.  The Company has commenced a search for Mr. Pollner’s successor.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits
Exhibit No.	Description
10.1	Amendment No. 2 to Second Amended and Restated Credit Agreement dated as of June 5, 2026, among J & J Snack Foods Corp. and certain subsidiaries, as borrowers, Citizens Bank, N.A., as Administrative Agent, and certain lenders and other parties thereto.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	J & J SNACK FOODS CORP.
	By:	/s/ Shawn Munsell
	Name: Shawn Munsell
	Title: Chief Financial Officer

Date: June 10, 2026

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 113.0 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB