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Utz to acquire Vitner's snack brand for $25M


Dive Brief:
Utz Brands is acquiring assets related to Chicago snack brand Vitner’s from Snak-King for $25 million, according to a release. Utz said the deal, which is expected to close in February, will be accretive to earnings this year and beyond.
Vitner s, which was started in 1926, has about 55 direct-store-delivery (DSD) distribution routes. The deal includes the Vitner’s trademark and DSD distribution of Vitner’s branded products. Most of Vitner s snack products are manufactured by Snak-King, but Utz plans to transition manufacturing for many of those products to its own plants.
This is the third acquisition from Utz since it was acquired by blank check company Collier Creek Holdings and went public on the New York Stock Exchange last year. Utz said in the release that the distribution routes acquired in this deal will help to grow its brands in the grocery, drug and street channels in the Midwest. ....

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