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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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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.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Utz Brands Completes Acquisition of ON THE BORDER® Tortilla Chips
December 14, 2020 GMT
HANOVER, Pa. (BUSINESS WIRE) Dec 14, 2020
Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”) announced that effective today, its subsidiaries Utz Quality Foods, LLC (“UQF”) and Heron Holding Corporation have completed the acquisition of Truco Enterprises (“Truco”), a leading seller of tortilla chips, salsa and queso under the
ON THE BORDER® (“OTB”) brand, for a total purchase price of $480 million, subject to a customary post-closing purchase price adjustment. The acquisition includes the