Utz Brands, the US savoury snack company, has announced the acquisition of crisp maker RW Garcia for $56 million.
Founded in 1982, RW Garcia is a family-owned manufacturer of organic gluten-free tortilla chips, crackers and corn chips. The firm has manufacturing facilities located in Nevada and North Carolina.
“We expect this strategic acquisition will enable strong supply chain synergies, enhance our ability to expand distribution of our existing brands, and supplement our better-for-you product portfolio”, said Utz Brands CEO Dylan Lissette. “RW Garcia has a great track record of better-for-you innovation and production capabilities, and with the RW Garcia brand as part of our portfolio, Utz’s retail sales in the better-for-you segment will exceed $100 million on an annual basis following the closing”.
“We believe this strategic combination will help accelerate the growth of Utz’s brands and expand margins over the long-term, and we look forward to continuing to serve RW Garcia’s existing customers”, he added.
Source: Utz Brands (via BusinessWire)