Lancaster Colony Corporation (NasdaqGS:LANC) intends to make acquisitions. Douglas Fell, Chief Financial Officer and Vice President of the company said: “We also ended the quarter with over $256 million in cash and equivalents, as we benefited from continued strong operating cash flows. Given our balance sheet posture, we continue to possess considerable flexibility to address foreseeable cash requirements, including those supportive of our future organic growth initiatives, acquisition opportunities, continue dividends, and share repurchases.

Jay Gerlach, Chairman, Chief Executive Officer and President said: “We continue to pursue acquisition opportunities with a priority on branded retail product lines and preferably in the better for new area. We have seen a bit more active deal flow, but as always, it's unpredictable if and when we may actually make an acquisition. With our major capital project for the year complete, we would estimate total capital spending for the year to be about $20 million.

We continue to consider our capital allocation, as it relates to needs for investment in our existing business, acquisition opportunity, share repurchases and dividends. We did extend our string of annual cash dividend increases for 52 years, with an increase in our recent December payment.”