Bridgford Foods Corporation

Business model and segments

Industry: Manufacturing, marketing, and distribution of frozen and snack food products in the United States.
Two operating segments:
- Frozen Food Products
  - Serves food service and retail customers.
  - Approximately 130 unique frozen food products.
  - Sold through about 820 wholesalers, cooperatives, and distributors.
- Snack Food Products
  - Serves retail supermarkets, mass merchandisers, and convenience stores nationwide.
  - Approximately 180 different snack items.
  - Distributed through customer-owned distribution centers and a direct-store-delivery (DSD) network (non-refrigerated).
  - Uses a DSD model to provide service, display setup, and restocking.
In-house product categories include biscuits, bread dough items, roll dough items, dry sausage products, salami, and beef jerky.
Private-label emphasis: In fiscal 2025 the company shifted toward producing more private-label products in response to consumer demand for affordable non-branded items.

Revenue mix by segment:
- Frozen Food Products: 25% of consolidated sales in 2025; 26% in 2024.
- Snack Food Products: 75% of consolidated sales in 2025; 74% in 2024.
Distribution and delivery:
- Frozen foods: sold to food service and retail distributors who take title upon shipment; the company has moved from company-owned long-haul fleets to more cost-effective transportation such as common carriers.
- Snack foods: primarily delivered via a direct-store-delivery network and customer-managed warehouses to reduce distribution costs.
Advertising and marketing: focused on retail and institutional customers through promotional programs, direct advertising allowances, consumer and trade advertising, trade shows, and social media.

Wal‑Mart:
- 33.5% of revenues in fiscal 2025; 8.2% of accounts receivable as of October 31, 2025.
- 27.8% of revenues in fiscal 2024; 25.4% of accounts receivable as of November 1, 2024.
Dollar General:
- 14.2% of revenues in fiscal 2025; 28.8% of accounts receivable as of October 31, 2025.
- 14.2% of revenues in fiscal 2024; 20.2% of accounts receivable as of November 1, 2024.
The company relies on large national retailers; customer concentration and changes in buyer buying power can impact results.

Frozen Food Products: about 130 unique products distributed through roughly 820 wholesalers, cooperatives, and distributors.
Snack Food Products: distributed to approximately 19,000 supermarkets, mass merchandisers, and convenience stores across all 50 states using both warehouse delivery and direct-store-delivery.

Total employees: 668 (as of October 31, 2025); 649 are full-time.
Approximately 44% of employees are covered by collective bargaining agreements; agreements either expired or will expire between 2025 and 2028.
The company emphasizes maintaining good labor relations and managing potential impacts from labor disruptions.

Ownership: Approximately 80% of outstanding stock is owned by the Bridgford family.
Governance: Two Bridgford family members sit on the Board; two Bridgford family members serve on the Executive Committee.
The company has relied on the "controlled company" exemption from certain NASDAQ governance requirements due to family ownership; the compensation committee is independent.

Owned properties (as of October 31, 2025):
- Anaheim, CA: 100,000 sq ft building on 5.0 acres.
- Dallas, TX: 94,000 sq ft on 4.0 acres.
- Dallas, TX: 30,000 sq ft on 2.0 acres.
- Dallas, TX: 16,000 sq ft on 1.0 acres.
- Dallas, TX: 3,200 sq ft on 1.5 acres.
- Statesville, NC: 42,000 sq ft on 8.0 acres.
- Chicago, IL: 177,000 sq ft on 8.0 acres.
Properties are used for processing, warehousing, distribution, and administrative purposes.
The company also leases warehouse and office facilities throughout the United States on month-to-month rental agreements.

Raw materials: Purchases large quantities of pork, beef, and flour from multiple suppliers; ingredient inventories are managed to respond to price trends. The company does not maintain a commodity futures or hedging program.
Research and development: Maintains an in-house test kitchen and uses consultants to test new products, processing methods, and ingredient blends; product line additions and deletions are evaluated continuously.
Cybersecurity: Maintains an information security program overseen by an IT Steering Committee and the Audit Committee; engages a third-party provider for threat monitoring and security enhancements.
Regulation: Subject to USDA, FDA, OSHA, and other applicable laws and regulations; complies with HACCP and safety requirements and maintains necessary licensing and compliance programs.