USA: Utz Brands to acquire Vitner’s snack brand

Savoury snacks US firm Utz Brands has announced that its subsidiary Utz Quality Foods has reached an agreement to acquire the Vitner’s snacks brand and distribution assets from Snak-King Corp for $25 million.

The sale includes intellectual property such as the brand trademark and direct-store-delivery (DSD) distribution assets related to the brand’s products.

“This transaction is a continuation of our strategy to successfully build long-term value and share by expanding in major metropolitan areas”, said Utz Brands CEO Dylan Lissette. “This acquisition strengthens our competitive position and will be a spark for continued growth in the Midwest. We are confident this transaction will drive long-term value creation for our shareholders and help position Utz for continued long-term growth”.

Vitner’s will join Utz Brands’ existing portfolio,which includes brands such as Utz, On The Border, Zapp’s, Golden Flake, Good Health and Boulder Canyon.

Source: Utz Brands (via BusinessWire)