Company: BRID
Filing Date: 2025-01-29
Form Type: 10-K
Source: 0001493152-25-004182
Chunk: 0

Company: BRIDGFORD FOODS CORP
Filing Date: 2025-01-29
Form: 10-K
Item: Item 1
Chunk 0
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Background of Business

Bridgford Foods Corporation
(collectively with its subsidiaries, “Bridgford”, the “Company”, “we”, or “our”), a California
corporation, was organized in 1952. We originally began operations in 1932 as a retail meat market in San Diego, California and evolved
into a meat wholesaler for hotels and restaurants, a distributor of frozen food products, a processor and packer of meat, and a manufacturer
and distributor of frozen food products for sale on a retail and wholesale basis. Currently, we are primarily engaged in the manufacturing,
marketing, and distribution of an extensive line of frozen and snack food products throughout the United States. We have not been involved
in any bankruptcy, receivership, or similar proceedings since inception nor have we been party to any merger, acquisition, etc. or acquired
or disposed of any material amounts of assets during the past five years other than the sale of our real property located at 170 N. Green
Street in Chicago in June 2022. Substantially all of our assets have been acquired in the ordinary course of business.

Description of Business

Bridgford currently operates
in two business segments - the processing and distribution of frozen food products and the processing and distribution of snack food products.
For information regarding the separate financial performance of the business segments refer to Note 7 of the Notes to Consolidated Financial
Statements included in this Report.

The following table shows
sales, as a percentage of consolidated sales, for each business segment during the last two fiscal years:

    2024  
    2023 
  
    Frozen Food Products 
     26% 
     23%
  
    Snack Food Products 
     74% 
     77%

     100% 
     100%

We manufacture nearly all
of our food products and distribute an extensive line of biscuits, bread dough items, roll dough items, dry sausage products and beef
jerky. Our direct store delivery network consists of non-refrigerated snack food products. Our frozen food products division serves both
food service and retail customers. 

 3 

Although we have recently
introduced several new products, most of these products have not contributed significantly to our revenue growth for the fiscal year 2024.
Our sales are not subject to material seasonal variations. Historically we have been able to respond quickly to the receipt of orders
and, accordingly, do not maintain a significant sales backlog. Neither Bridg