Utz to buy chip supplier for $41M in move to cut costs and grow its brands

Dive Brief:
Utz Brands is buying Festida Foods, a manufacturer of tortilla chips, corn chips and pellet snacks, for $41 million, the company said in a statement. Festida is the largest manufacturer of tortilla chips for Utz's On The Border tortilla chip brand. 
Utz said the acquisition of Michigan-based Festida will improve the supply chain for On The Border and increase the company's ability to expand the geographic presence of the brand and others in its portfolio throughout the Midwest. The deal is expected to close before July.
Utz has been on an acquisition binge since it came public last year after merging with blank check company Collier Creek Holdings. The company has made four deals since August.

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