Utz acquires On The Border tortilla chips
Updated Jan 14, 2021;
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Utz has acquired a company that makes tortilla chips, salsa and queso.
Utz Brands Inc. announced last month that it had completed the acquisition of Truco Enterprises, a portfolio company of Insignia Capital Group. that sells the products under the On the Border brand for 480 million, subject to a customary post-closing purchase price adjustment.
The acquisition includes the On the Border trademarks in the manufacture, sale, and distribution of snack food products in the United States and certain other international markets.
Utz said that the acquisition strengthens its national geographic footprint.
® (“Power Brands”).
Following the acquisition, Vitner’s potato chips, cheese snacks, corn snacks and popcorn will move Utz from the #7 position to the #4 position among salty snacks in the Chicago market, the fourth largest salty snack market in the U.S. at approximately $688 million in annual retail sales for the 52 weeks ending November 29, 2020 according to IRI. Most of Vitner’s products are currently manufactured by Snak King, but Utz plans to transition manufacturing of most of those products to its own manufacturing plants after closing, further increasing utilization of Utz’s manufacturing network.
“This strategic acquisition will make Utz a more significant competitor in the Chicago area. Combined with our recently announced acquisition of the On the Border
Press release content from Business Wire. The AP news staff was not involved in its creation.
Utz Brands to Acquire Vitner’s Snack Food Brand and Distribution Assets
January 11, 2021 GMT
HANOVER, Pa. (BUSINESS WIRE) Jan 11, 2021
Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks, announced that its subsidiary Utz Quality Foods, LLC (“UQF”) has entered into a definitive agreement with Snak-King Corp. (“Snak King”) to acquire certain assets related to the Vitner’s brand (“Vitner’s”), a leading brand of snack foods in the Chicago metropolitan market, for a total purchase price of $25 million, subject to customary purchase price adjustments. The acquired assets include the intellectual property, including the
Utz ramps up competitor advantage in Midwest with acquisition of iconic Chicago snack brand Utz Quality Foods – a subsidiary of Pennsylvania-based Utz Brands – is continuing to cement its footprint in US metropolitan areas with the acquisition of Vitner’s from Snak King for $25m.
Vitner’s – founded in 1926 as the C.J. Vitner Company – was one of the oldest family-run snack food companies in the US when it was purchased by California-based Snak King in 2011. Its snack portfolio boasts over 100 products – including potato chips, popcorn, corn chips and pork rinds.
The deal includes Vitner’s trademark and other intellectual properties, as well as its distribution assets. Utz plans to capitalise on Vitner’s 55 direct-store delivery routes to expand its reach in the Midwest.
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Utz is acquiring Vitner s from parent company Snak King. (AP Photo/Mark Lennihan)
CHICAGO, IL Potato chip and salty snack maker Utz announced Tuesday that it plans to acquire iconic Chicago brand Vitner s. Utz Quality Foods, a subsidiary of parent company Utz Brands of Pennsylvania, said it will pay $25 million to Snak King Corp. for parts of Vitner s, including the Vitner s trademark and intellectual property.
In a release, Utz brands called Vitner s a leading brand of snack foods in the Chicago metropolitan market. The sale is expected to close on Feb. 8.
Utz said Vitner s, established in 1926, will give the company a strengthened foothold in Chicago and the Midwest from which to grow its Power Brands, including Utz, On the Border tortilla chips and salsa, Zapp s and Golden Flakes.