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Utz Brands, Inc. (UTZ) Q4 2021 Earnings Call Transcript

UTZ earnings call for the period ending December 31, 2021. ....

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Utz Brands To Acquire Festida Foods

Utz Brands, Inc. (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks, announced that its. ....

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Utz to acquire Michigan company for $41 million

Utz to acquire Michigan company for $41 million
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Utz Brands, Inc. (UTZ) Q1 2021 Earnings Call Transcript

Operator
Good day and thank you for standing by. Welcome to the Utz Brands first-quarter 2021 earnings conference call. [Operator instructions] Please be advised that today s conference is being recorded. [Operator instructions] I would now like to hand the conference over to your speaker today, Kevin Powers, head of investor relations.
Thank you. Please go ahead.
Kevin Powers
Head of Investor Relations
Good morning and thank you for joining us today. On the call today are Dylan Lissette, chief executive officer; and Cary Devore, chief financial officer. During this call, management may make forward-looking statements within the meaning of the federal securities laws. These statements are based on management s current expectations and involve risks and uncertainties that could differ materially from actual events and those described in these forward-looking statements. ....

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Utz acquires long time co-manufacturer of tortilla chips for On the Border brand

Utz acquires long time co-manufacturer of tortilla chips for On the Border brand
Utz Brands Inc. is acquiring Festida Holdings – the primary supplier of the tortilla chips for the On the Border brand – which will cement its distribution footprint in the Midwest.
The transaction includes all of Festida’s assets, including the real estate located in Michigan, and represents a multiple of 6x Festida’s adjusted 2020 EBITDA of $6m (excluding estimated synergy).
Utz will be drawing on its revolving credit facility to fund the $41m cash purchase and anticipates it to be accretive to its 2021 earnings, generating net present value of $5m from tax benefits and $1m in cost synergies. ....

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