Press release content from Business Wire. The AP news staff was not involved in its creation.
Utz Brands Completes Acquisition of ON THE BORDER® Tortilla Chips
December 14, 2020 GMT
HANOVER, Pa. (BUSINESS WIRE) Dec 14, 2020
Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”) announced that effective today, its subsidiaries Utz Quality Foods, LLC (“UQF”) and Heron Holding Corporation have completed the acquisition of Truco Enterprises (“Truco”), a leading seller of tortilla chips, salsa and queso under the
ON THE BORDER® (“OTB”) brand, for a total purchase price of $480 million, subject to a customary post-closing purchase price adjustment. The acquisition includes the
Utz Brands Completes Acquisition Of Insignia Portfolio Company Truco Enterprises
News provided by
Share this article
Share this article
WALNUT CREEK, Calif., Dec. 14, 2020 /PRNewswire/ Insignia Capital Group today announced that it has completed the previously announced sale of Truco Enterprises ( Truco or the Company ) to Utz Brands (NYSE: UTZ) in a transaction valued at approximately $480 million in cash.
Truco is a leading maker of tortilla chips, salsa and queso sold under the On The Border® ( OTB ) brand. Insignia Capital Group invested in Truco in 2014 to help the Company expand its distribution footprint and launch new product innovation. Together, Insignia and Truco made significant investments in sales and R&D that tripled adjusted EBITDA over the past six years. It has been a true pleasure partnering with the Truco team to generate this exceptional outcome for all of the Company s stakeholders, said David Lowe, CEO of Insignia Capital Group. We belie