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Utz Brands, Inc. (UTZ) Q1 2021 Earnings Call Transcript


Operator
Good day and thank you for standing by. Welcome to the Utz Brands first-quarter 2021 earnings conference call. [Operator instructions] Please be advised that today s conference is being recorded. [Operator instructions] I would now like to hand the conference over to your speaker today, Kevin Powers, head of investor relations.
Thank you. Please go ahead.
Kevin Powers
Head of Investor Relations
Good morning and thank you for joining us today. On the call today are Dylan Lissette, chief executive officer; and Cary Devore, chief financial officer. During this call, management may make forward-looking statements within the meaning of the federal securities laws. These statements are based on management s current expectations and involve risks and uncertainties that could differ materially from actual events and those described in these forward-looking statements. ....

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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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