Utz Brands, Inc. entered into a definitive agreement to acquire all assets and certain operating liabilities of Great Lakes Festida Holdings, Inc. for $41 million.
May 10, 2021
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Utz Brands, Inc. (NYSE:UTZ) entered into a definitive agreement to acquire all assets and certain operating liabilities of Great Lakes Festida Holdings, Inc. for $41 million on May 11, 2021. The total purchase price is $41 million and is subject to customary purchase price adjustments. Utz Brands, Inc. expects to draw on its revolving credit facility to fund the $41 million cash purchase price. The transaction is subject to customary closing conditions and is expected to close in the second quarter of 2021. Utz expects the transaction to be accretive to earnings in 2021 and beyond.
Utz Brands, Inc. is a manufacturer of branded salty snacks. The Company produces salty snacks, including potato chips, tortilla chips, pretzels, cheese snacks, pork skins, veggie snacks, pub/party mixes, and other snacks. The Company's brands include Power and Foundation brands. Power brands comprised of its Utz brand and On The Border brand; craft brands, such as Zapp's, Golden Flake Pork Skins, TORTIYAHS!, and Hawaiian; BFY brands, such as Good Health and Boulder Canyon, and selected licensed brands, such as TGI Fridays. Foundation brands include regional snacking brands, such as Bachman, Golden Flake Chips and Cheese, Tim's Cascade Snacks, Snyder of Berlin, Dirty Potato Chips, and R.W. Garcia. The Company serves its products to grocery, mass merchant, club, convenience, drug, and other retailers through direct shipments, distributors, and over 2,100 direct-store-delivery routes. The Company manufactures its products in over 16 manufacturing facilities across the United States.
Utz Brands, Inc. entered into a definitive agreement to acquire all assets and certain operating liabilities of Great Lakes Festida Holdings, Inc. for $41 million.
UTZ BRANDS, INC. 
