J & J Snack Foods Corp. (NASDAQ:JJSF) announced yesterday that it has acquired the assets of Uptown Bakeries for cash.

Uptown Bakeries, located in Bridgeport, NJ, is a fresh bakery manufacturer with approximately $17 million in annual sales. Wawa Food Markets, a chain of 512 stores headquartered in Wawa, Pennsylvania, is presently Uptown’s primary customer under a long term contract.

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Uptown is the exclusive provider of Wawa branded fresh bakery products such as muffins, bagels, donuts, fancies and soft pretzels for Wawa’s in-store bakery operation.

J & J said that it expects Uptown to add to its net earnings for its fiscal year which ends in September 2001.

Gerald B. Shreiber, J & J’s President and Chief Executive Officer, commented; “We are pleased to add these exciting array of specialty bakery products to our product line and look forward to growing this category with Wawa Food Markets.”

J & J Snack Foods Corp.’s principal products include SUPERPRETZEL soft pretzels, ICEE and ARCTIC BLAST frozen beverages, LUIGI’S, MAMA TISH’S, SHAPE-UPS, Minute Maid®(1) and Hi-C®(1) frozen juice bars and ices, TIO PEPE’S churros and MRS. GOODCOOKIE and CAMDEN CREEK cookies.

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J & J has manufacturing facilities in Pennsauken, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas and Vernon (Los Angeles), California.

The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management’s analysis only as of the date hereof.

The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof.

(1) Minute Maid and Hi-C are registered trademarks of The Coca-Cola Company.

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