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Utz Brands, Inc. (symbol: UTZ) is a renowned name in the snack food industry, with a rich history dating back to its founding in 1921. Headquartered in Hanover, PA, Utz Brands is privately-owned and family-managed, producing a broad range of snack products that cater to diverse tastes.
The company’s extensive product lineup includes potato chips, pretzels, cheese snacks, corn products, and popcorn, distributed under various popular brands such as Utz, Zapp's, Golden Flake, Boulder Canyon, Hawaiian, TORTIYAHS! and more. These products are widely available through national and international channels, including grocery stores, mass merchants, club stores, convenience stores, and drug stores.
Utz Brands boasts multiple manufacturing facilities to support its vast production needs. The main hub is in Hanover, with additional facilities in Louisiana, Massachusetts, and Wilkes-Barre, PA. This wide network ensures a steady supply of fresh and delicious snacks to consumers across the globe.
Recently, Utz has made significant strides in expanding its market reach and improving product quality. The company has formed strategic partnerships and launched several initiatives to enhance its brand presence and customer satisfaction. Financially, Utz Brands has demonstrated solid performance, with a focus on sustainable growth and innovation.
Utz’s commitment to quality and customer satisfaction has solidified its position as a leader in the snack food industry. For more information about Utz or its products, visit www.utzsnacks.com or call 1-800-FOR-SNAX.
Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of $0.05 per share on its Class A Common Stock, set to be paid on July 12, 2021, to stockholders of record as of June 21, 2021. This dividend will be financed through cash distributions from Utz Brands Holdings, LLC. Future dividends will be determined at the discretion of Utz’s Board of Directors, considering various operational and financial factors. Utz operates several facilities across the U.S., producing a variety of savory snacks.
Utz Brands (NYSE:UTZ), a top U.S. snack producer, will present at two upcoming conferences: the Oppenheimer 21st Annual Consumer Growth and E-Commerce Conference on June 16, 2021, and the Jefferies Consumer Conference on June 22, 2021. CEO Dylan Lissette and CFO Cary Devore will participate in a virtual fireside chat at the Oppenheimer conference at 2:55 p.m. ET, followed by a presentation at Jefferies at 9:45 a.m. ET. Live webcasts and 90-day replays will be available on Utz’s Investor Relations website.
Utz Brands has partnered with Ferrara to launch new snack food variety packs, catering to consumer demand for sweet and salty options. This collaboration aims to introduce competitively priced packs, ranging from $4.99 to $12.99, filled with snacks such as cookies, pretzels, and popcorn. Research indicates over 60% of consumers prefer these mixed varieties, yet only 16% of current offerings include them. The joint effort is expected to enhance Utz's market presence, with tens of millions of packages distributed across the U.S.
Utz Brands is partnering with Breeze Airways to serve Utz Original Potato Chips on flights. This collaboration marks a significant milestone as Utz celebrates its 100th anniversary, showcasing its commitment to quality with simple ingredients since 1921. Breeze Airways, founded by JetBlue's David Neeleman, offers 39 nonstop routes across the U.S. CEO Dylan Lissette expressed excitement for the partnership, highlighting it as a perfect match for the airline's offerings. Utz products are available in various retail locations and onboard Breeze flights.
The Utz Brand has launched its latest innovation, the Utz Twisterz Seasoned Mini Pretzels, featuring flavors like Zesty Cheddar and Tangy Mustard. This new product comes in a 21 oz barrel that preserves freshness. Consumer demand for flavored pretzels has surged nearly 30% over the past year, according to IRI. Utz aims to capitalize on this trend as a leader in pretzel sales. The pretzels will be available in stores and online from June 7. CEO Dylan Lissette highlighted the company's growth strategy through innovation and acquisitions.
Utz Brands, a leading U.S. salty snack manufacturer, reported Q1 2021 financial results, showing net sales of $269.2 million, an 18% increase year-over-year. However, pro forma net sales decreased 2.2%. Gross profit reached $95.2 million with an adjusted gross profit margin of 38.8%. The company faced a net loss of $23.3 million due to factors like warrant remeasurement and increased depreciation. Despite these challenges, adjusted EBITDA grew 29.8% to $37.9 million. Utz reaffirms its full-year outlook, targeting net sales of $1.16 billion with modest growth.
Utz Brands, Inc. (NYSE:UTZ) has signed a definitive agreement to acquire all assets of Festida Foods for $41 million. Festida is a leading manufacturer of tortilla chips and mainly supplies Utz's ON THE BORDER brand. This acquisition is valued at approximately 6.0x Festida's fiscal 2020 Adjusted EBITDA of $6 million, decreasing to 5.1x when accounting for expected synergies. The deal is anticipated to enhance supply chain efficiency and is expected to be accretive to Utz’s earnings from 2021 onward, with an expected completion in Q2 2021.
Utz Brands, Inc. (NYSE:UTZ) has announced the adjournment of its virtual annual meeting of stockholders to May 20, 2021, allowing time to review the amended 2020 Annual Report, which will reflect the reclassification of certain warrants as liabilities per SEC guidelines. Stockholders of record as of March 15, 2021, are entitled to vote. The Company is committed to providing similar rights at this virtual meeting as in-person meetings. Further details are available in the proxy materials and the investor relations website.
Utz Brands, Inc. (NYSE: UTZ) will report its first quarter 2021 financial results on May 13, 2021, before market open.
The company will hold a conference call and webcast at 8:30 a.m. ET to discuss the results. Interested parties can access the live webcast via Utz’s Investor Relations website.
The company, known for its diverse portfolio of savory snacks, operates 14 facilities across multiple states and emphasizes high-quality ingredients. For more updates, refer to Utz's investor relations pages.
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