Utz Brands, Inc. entered into a definitive agreement to acquire assets of Clem Snack's, Inc. and J&D Snacks Inc.
January 23, 2022
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Utz Brands, Inc. (NYSE:UTZ) entered into a definitive agreement to acquire assets of Clem Snack's, Inc. and J&D Snacks Inc. on January 24, 2022. Utz Brands used balance sheet cash and its revolving credit facility to fund the acquisition. The transaction will result in acquisition of 100 direct store delivery (DSD) from Clem, while 25 from J&D. Assets of Clem and J&D will be acquired by subsidiaries of Utz.
Utz Brands expects to use balance sheet cash and its revolving credit facility to fund the purchase price. The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022.
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 Companyâs brands include Power and Foundation brands. Power brands comprised of its Utz brand and On The Border brand; craft brands, such as Zappâs, 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, Timâs 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. 
