Utz Quality Foods To Acquire Inventure Foods For $165 Million

Posted On: 10/26/2017

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HANOVER, PA -- Utz Quality Foods Inc. has acquired rival snack giant Inventure Foods in a $165 million deal. Utz, headquartered in Hanover, PA, is said to be the largest privately held and family-managed branded salty snack manufacturer in the U.S. Its brands include Bachman, Zapp's and Dirty.

Phoenix-based Inventure makes company-branded and licensed snacks including Boulder Canyon Foods, Jamba, Nathan's Famous and TGI Friday's.

The $165 million purchase price includes the assumption of approximately $75 million of debt, net of cash, around $8 million of Inventure’s estimated closing costs and $3 million due to equity award holders.

"The company's specialty snack food products and brands, as well as its geographic footprint, customer relationships and distribution strengths, are highly complementary to our business and we look forward to continuing Inventure's strong heritage of innovation in both healthy and indulgent snacking,” said Utz chief executive Dylan Lissette.

In March, Inventure announced the sale of its frozen vegetable business to Pictsweet Co., and in September it said it was selling its frozen foods business to Oregon Potato Co.

ON DISPLAY: Randy Quirk (right), Pepsi Bottling Ventures (Raleigh, NC) gets the story on Utz original potato chips from Greg Kvachkoff, Utz Quality Foods, at Western-themed Atlantic Coast Exposition in Myrtle Beach, SC. Utz was founded in Hanover, PA, in 1921 to produce and sell its "Hanover Home Brand Potato Chips," which remain a category leader today. Utz since has grown to the largest independent privately owned snack brand in the United States.