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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 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.
The TORTIYAHS!® Brand is gearing up for Cinco De Mayo with its popular tortilla chips, which are a family favorite. This holiday significantly boosts sales for tortilla chips, salsas, and dips. TORTIYAHS! has experienced an impressive average yearly growth rate of nearly 200% from 2015 to 2020, according to IRI data. This growth positions the brand to be a highlight of Cinco De Mayo celebrations, driving strong sales and consumer engagement.
Utz Brands, Inc. (NYSE:UTZ) has declared a quarterly cash dividend of approximately $0.05 per share on its Class A Common Stock. Payment is scheduled for May 10, 2021, to stockholders of record as of April 19, 2021. This dividend will be funded by cash distributions from Utz Brands Holdings to Utz and its other common unit holders. Future dividends will depend on the Board of Directors' assessment of various factors including operational results and financial condition.
Utz Brands has acquired distribution rights for 21 DSD routes in Central Florida from National Food Corp., enhancing its presence in a key market. Florida, the third-largest state for Salty Snacks with $1.8 billion in sales, shows a 7.7% growth. Utz's retail sales in the region reached $48 million in 2020, growing 16.6%, but still only capturing 2.6% of the market. This acquisition aims to boost sales and improve distribution support, aligning with Utz's strategy of increasing market penetration in Florida.
Utz Brands announces a $6 million profit-sharing contribution for its 401K Profit Sharing Plan, benefitting Utz Associates. This contribution reflects the company's retail success and follows over $75 million in contributions since 2000. The announcement comes after Utz's public debut in August and recent acquisitions of ON THE BORDER® chips and dips and Vitner’s®. Despite COVID-19 challenges in 2020, Utz exceeded expectations, attributing success to the efforts of its resilient team. Utz continues to engage and reward its workforce as it approaches its 100-year anniversary.
Utz Brands reported strong fiscal fourth quarter results for 2020, with net sales reaching $246.3 million, up 22.1% year-over-year. The company achieved adjusted net income of $20.4 million, a significant increase from $0.5 million in Q4 2019. Full-year net sales totaled $964.3 million, a 25.5% increase, driven by robust performance in Power Brands and an additional week of sales from a 53-week fiscal year. Looking forward, Utz projects modest organic growth in 2021, estimating net sales consistent with 2020 levels and adjusted EBITDA between $180-$190 million.
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