Welcome to our dedicated page for Utz Brands news (Ticker: UTZ), a resource for investors and traders seeking the latest updates and insights on Utz Brands stock.
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) plans to report its fourth quarter and full year 2020 financial results on March 18, 2021, before the market opens. A conference call and webcast with the executive management team will follow at 8:30 a.m. Eastern Time, allowing investors to gain insights into the Company's performance. Utz is a leading manufacturer of branded salty snacks with a diverse portfolio, including brands like Utz® and ON THE BORDER® Chips & Dips. For more details, visit their Investor Relations website.
Utz Brands, Inc. (NYSE: UTZ) has successfully closed a $720 million Term Loan B refinancing, extending its maturity to 2028. This new financing, driven by strong investor demand, will lower the Company’s cash interest costs by $3.6 million annually and enhance financial flexibility for growth. The new loan, combined with approximately $181 million from warrant redemptions, has fully repaid a $490 million Bridge Credit Facility and refinanced a previous $410 million Term Loan B. The increase in Utz's ABL revolving credit facility to $161 million further supports this refinancing strategy.
Utz Brands has announced a definitive agreement to acquire certain assets of the Vitner’s brand from Snak-King Corp for $25 million. This acquisition includes valuable intellectual property and DSD distribution assets, expected to enhance Utz's market share in the Chicago metropolitan area, increasing its position from #7 to #4 in the salty snacks market. With 55 DSD routes, Utz aims to leverage Vitner’s brand to grow its Power Brands and transition most production to its facilities. The transaction is projected to be accretive to earnings starting in 2021.
Utz Brands, Inc. (NYSE: UTZ) appointed Kevin Powers as Senior Vice President of Investor Relations, effective January 4, 2021. Powers brings nearly 15 years of experience in investor relations, particularly in consumer packaged goods and retail sectors. He previously served as VP of Investor Relations at CommScope and held roles at Snyder’s-Lance and Campbell Soup Company, among others. CEO Dylan Lissette expressed confidence in his ability to enhance Utz's relationships with the investment community and drive sustainable growth for long-term shareholder value.
Utz Brands, Inc. (NYSE: UTZ) announced that CEO Dylan Lissette and CFO Cary Devore will host a fireside chat at the 2021 ICR Conference on January 13, 2021, at 8:30 a.m. ET. The discussion will cover key company insights and strategies. Investors can access the live webcast via the Events & Presentations section on Utz's Investor Relations website, with a replay available for 90 days post-event. Utz is a prominent U.S. manufacturer of salty snacks, offering brands like Utz®, On The Border®, and Zapp’s®.
Utz Brands (NYSE: UTZ) has successfully completed the acquisition of Truco Enterprises for approximately $480 million in cash. Truco is renowned for its On The Border® brand, specializing in tortilla chips, salsa, and queso. This acquisition aims to enhance Utz's product portfolio and market reach. Insignia Capital Group, Truco's previous owner, achieved significant growth under its management, tripling the company's adjusted EBITDA since 2014. The transition is expected to foster further growth for Truco, positioning Utz as a leading player in the snack food sector.
Utz Brands, Inc. (NYSE: UTZ) has completed the acquisition of Truco Enterprises for $480 million, enhancing its position in the $6.3 billion tortilla chip market. The agreement provides Utz with the ON THE BORDER® brand, which generated an estimated $50 million in fiscal 2020 Adjusted EBITDA. The acquisition is expected to be accretive to earnings in 2021 and beyond, with synergies estimated at $5 million. To finance this deal, Utz will redeem public warrants for approximately $181.3 million and secure up to $320 million in term loans, aiming for a net leverage ratio of about 3.8x Adjusted EBITDA.
Utz Brands, Inc. (NYSE: UTZ) has declared a cash dividend of approximately $0.06 per share on its Class A Common Stock, expected to be paid on January 11, 2021, to stockholders of record as of December 21, 2020. This includes a regular quarterly dividend of $0.05 and an additional cash dividend of around $0.01 per share, totaling roughly $0.8 million from tax distributions. Future dividends will depend on the Company’s financial condition and performance.
Utz Brands (NYSE: UTZ) announced the acquisition of Truco Enterprises for $480 million, enhancing its portfolio in the tortilla chips, salsa, and queso markets under the ON THE BORDER® brand. Expected to close in December 2020, the deal is projected to be accretive to earnings from 2021 onward, with an estimated $50 million in Truco Adjusted EBITDA for fiscal 2020. The acquisition boosts Utz's market presence, particularly in the $6.2 billion tortilla chip category, while allowing anticipated synergies of at least $5 million.
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