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LANCASTER COLONY PRESIDENT ISSUES LETTER TO CUSTOMERS, SUPPLIERS AND PARTNERS ON THE STATUS OF ERP INITIATIVE

Published: 2022-07-27 17:41:00 ET

WESTERVILLE, Ohio, July 27, 2022 /PRNewswire/ -- David A. Ciesinski, President and CEO of Lancaster Colony Corporation (NASDAQ: LANC), issued the following letter today as an update on the company's Enterprise Resource Planning (ERP) initiative, Project Ascent.

Dear Lancaster Colony Corporation / T. Marzetti Company Customers, Suppliers and Partners,

I am pleased to share that we are nearing completion of the Wave 1 implementation phase of our ERP initiative, Project Ascent. On July 1, we went live on our new SAP® S/4 HANA ERP system and the cutover was implemented efficiently and in-line with our expectations. I am glad to report that we are receiving orders, producing product, shipping orders and have maintained our fulfillment levels throughout. We continue to work through minor issues, which are to be expected with a project of this scale, and we remain confident in our ability to resolve them.

Wave 1 is the most complex wave of Project Ascent, encompassing all financial transactions and all customer- and supplier-facing business processes including order-to-cash, trade promotions, procure-to-pay, and an EDI re-platform. Two of our manufacturing plants, a large distribution center, and all of our third-party warehouses are also now up and running on our new ERP system. We will be adding our remaining facilities and distribution centers to the new ERP system with future waves that are planned over the next 12 to 18 months.

In closing, I extend my sincere thanks to you for your support of our business as we complete this important milestone for Project Ascent and look forward to the opportunities to grow with and serve you that lie ahead.

Sincerely,

David A. CiesinskiPresident & CEOLancaster Colony Corporation / T. Marzetti Company

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SOURCE T.marzetti Company

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All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.