US manufacturer of branded salty snacks, Utz Brands, has entered into an agreement with Great Lakes Festida Holdings to acquire all assets related to the operation of Festida Foods for $41 million.
Festida Foods is a manufacturer of tortilla chips, corn chips, and pellet snacks for branded companies in the US, being the manufacturer of tortilla chips for Utz’s brand On The Border.
The acquisition will allow Utz brands to expand production capabilities in the manufacturing plant to support growth in adjacent sub-categories.
Dylan Lissette, CEO of Utz said: “We expect that this strategic acquisition will enable strong supply chain synergies for our On The Border brand and enhance our ability to expand both On The Border and other Utz power brands geographically in the Midwest.”
Source: Business Wire