USA: Utz Brands buys plant from Benestar Brands

US based salted snack manufacturer Utz Brands has announced that they have purchased a brand-new manufacturing facility in North Carolina from Benestar Brands, with the transaction totaling $38.4 million with $1.3 million in liabilities.

According to the company’s statement, the acquisition involved the plant, equipment, and the land where the plant is located.

Chief operating officer of Utz Brands, Cary Devore said: “This is a strong step forward in optimising our plant and logistics network, and it will allow us to in-source manufacturing across several product types that we currently outsource to some degree. This transaction increases our operational flexibility and will contribute to higher long-term margins over time, based on identifiable, multi-faceted cost synergies”.

The plant itself could also be potentially expanded from the current 125,000 sq ft to 200,000 sq ft and it will add 115 local jobs to the city of Kings Mountain, the firm said.

Utz Brands expects the plant to be fully operational and to start production this year.

Source: Utz Snacks