The story
Leonard Japp Sr. began selling pretzels from a truck in 1927. The business grew to feature a potato chip recipe made by Japp's wife, Eugenia. After the Wall Street crash of 1929, Japp found a new business partner (George Johnson of Chicago, later Founder of Chesty's in Terre Haute, IN) and began selling the chips under the brand name "Mrs. Japp’s Potato Chips". The 1941 attack on Pearl Harbor and subsequent anti-Japanese sentiment in the United States, however, led to a negative connotation towards the word "Jap" in the United States. The chips were consequently rebranded to "Jays Potato Chips" to avoid the sound-alike name, and the company became Jays Foods, Inc.
Jays Foods remained a family-owned company until 1986, when the company was sold to Borden, Inc. In 1994, Jays Foods was re-acquired by the Japp Family. In 2004, Jays Foods was purchased by Willis Stein & Partners, a Chicago private-equity firm, and, together with another snack company acquired by Willis Stein & Partners, Lincoln Snacks Company, assigned a parent company, Ubiquity Brands.
Jays Foods filed for Chapter 11 bankruptcy on October 11, 2007, the second time in four years, and permanently closed its Chicago manufacturing plant on December 5, 2007. On December 5, 2007, the remaining assets of Jay's were acquired by Snyder's-Lance, Inc. who have said they will continue to manufacture and distribute Jays products throughout the Midwest. Snyder's-Lance will continue to operate Jays Chicago warehouse and distribution center and its Jeffersonville, Indiana, manufacturing facility.
From Wikipedia’s article on Jays Foods, shared under CC BY-SA 4.0.4