Marzetti (formerly Lancaster Colony) makes and sells specialty food products — primarily sauces, dressings, and frozen breads — through two channels: retail grocery and foodservice. On the retail side, Marzetti sells under owned brands including Marzetti (salad dressings, dips), New York Bakery (frozen garlic bread), Sister Schubert's (frozen dinner rolls), and Cardini's/Girard's (shelf-stable dressings). A major growth driver is Marzetti's licensing program, through which the company manufactures and sells retail versions of restaurant brand products — including Chick-fil-A sauces, Olive Garden dressings, Buffalo Wild Wings sauces, and Texas Roadhouse rolls — sold in grocery, mass, and club channels. In foodservice, Marzetti is primarily a custom manufacturer, formulating and producing proprietary sauces, dressings, and breads for national chain restaurant customers, largely under private label. Walmart is the largest retail customer at ~19% of consolidated sales, while Chick-fil-A spans both retail and foodservice and accounts for ~29% of consolidated sales. Marzetti operates 14 U.S. plants serving both segments. Margins are driven by volume, commodity costs (soybean oil is the largest input), and ongoing cost-savings programs. The licensing model is capital-light since it leverages existing manufacturing and the restaurant partner's brand equity. Marzetti carries no debt and has raised its dividend for 62 consecutive years.