Vending

Utz Brands to acquire Great Lakes Festida for $41M

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May 11, 2021

Utz Brands Inc., a manufacturer of branded salty snacks, has entered into an agreement with Great Lakes Festida Holdings Inc. and related entities, to acquire all of the assets, including the real estate located in Grand Rapids, Michigan, related to the operation of Festida Foods, according to a press release. Festida Foods is a manufacturer of tortilla chips, corn chips and pellet snacks, and the largest manufacturer of tortilla chips for Utz's "On The Border" tortilla chip brand.

The total purchase price is $41 million and is subject to customary purchase price adjustments.

"We expect that this strategic acquisition will enable strong supply chain synergies for our 'On The Border' brand and enhance our ability to expand both 'On The Border' and other Utz power brands geographically in the Midwest," Dylan Lissette, Utz CEO, said in the release.