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May 11, 2021: 12:00 AM EST
The Hanover, Pa.-based salty snacks maker announced it will acquire the Grand Rapids, Mich. manufacturer of tortilla chips, corn chips, and pellet snacks for $41 million. Festida is the largest manufacturer of tortilla chips for Utz's On The Border tortilla chip brand. Utz CEO Dylan Lissette said the acquisition will” enable strong supply chain synergies” for the On The Border brand and help expand the brand and other Utz brands in the Midwest. Utz operates fourteen facilities located in Pennsylvania, Alabama, Arizona, Illinois, Indiana, Louisiana, Washington, and Massachusetts. The total purchase price is $41 million, subject to adjustments. The transaction is expected to close in the second quarter of 2021.
"Utz Brands to Acquire Festida Foods", Business Wire, May 11, 2021, © Business Wire, Inc.
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