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Utz Quality Foods to acquire H.K. Anderson peanut butter filled pretzels from ConAgra

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September 29, 2020

Utz Quality Foods, LLC has agreed to to acquire certain assets of the H.K. Anderson brand of peanut butter-filled pretzels from ConAgra Brands Inc., according to a press release.

The transaction, with a purchase price of less than $10 million which will be funded from current cash-on-hand, enables Utz to jump-start its entry into the growing filled pretzel segment, leveraging the synergies of its salty snack platform.

The acquisition includes intellectual property specific to the H.K. Anderson brand and does not include employees, facilities or equipment. The transaction is expected to close in November 2020, subject to customary closing

"The approximate $100 million filled segment of pretzels is ripe for innovation and growth," Dylan Lissette, chief executive officer of Utz Brands, Inc., said in the press release. "As we look to increase our share in the rapidly expanding salty snack category through new products and geographic growth, this type of acquisition is tailor made for the synergies and growth opportunity afforded by our platform."