Utz Buys Chip-Maker Golden Enterprises For $135 Million

Posted On: 7/22/2016

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TAGS: Utz's Golden Enterprises acquisition, Golden Enterprises, Utz potato chips, vending machine snacks

Golden Enterprises, Utz, vending machine snacks HANOVER, PA -- Utz Quality Foods said it will acquire Birmingham, AL-based Golden Enterprises Inc., the maker of Golden Flake chips, cheese curls and popcorn, for $135 million. Golden Enterprises stockholders will receive $12 per share in cash.

Hanover, PA-based Utz Quality Foods, whose brands include Utz, Bachman, Zapp's and Dirty Potato Chips, was founded in 1921 by William and Salie Utz, who began making potato chips in their Hanover home.

Golden Enterprises, founded in 1923, will operate as a separate subsidiary under its current management team.

"Golden Flake's product line, market coverage and manufacturing facilities blend well with Utz's desire to expand and grow our markets in the South," said Utz chief executive Dylan Lissette.

Utz said it expects the deal to close in the fourth quarter of 2016.