Utz Brands, Inc. Shares Success With Its Team!

Rhea-AI Summary

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.

Positive

• Announced a $6 million contribution to the 401K Profit Sharing Plan for Utz Associates.
• Total profit-sharing contributions since 2000 have exceeded $75 million.
• The announcement follows Utz's public listing and successful acquisitions.

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• None.

Utz Brands, Inc. is pleased to announce an approximately $6 million-dollar profit sharing contribution for Utz Associates. Started over forty years ago, the Utz 401K Profit Sharing Plan is committed to supporting Utz Associates and their families based on the company meeting a range of corporate and operational goals. Since 2000, the 401K profit sharing contributions for Associates has exceeded $75 million dollars.

Utz offers a wide variety of household favorite branded snack foods. Source: Utz Brands, Inc.

This year’s 401K profit sharing plan contribution is the realization of continued retail success. This news follows on the heels of a number of exciting announcements from Utz in the past year, including the company going public in August and the acquisition of consumer brand favorites ON THE BORDER® chips and dips and Vitner’s®.

Utz full-time and part-time Associates are eligible for the Utz 401K Profit Sharing Plan based on their tenure. Some terms and conditions apply.

“Although the COVID-19 pandemic created tremendous hardships in 2020, due to the extraordinary efforts of our Utz Associates, we were able to exceed our expectations, while fulfilling our duty as an essential business. In addition, this resilient team integrated several snack food acquisitions and helped to launch our company on the public stage, now trading on the New York Stock Exchange under the ticker symbol UTZ,” said Jim Sponaugle, Senior Vice President, Human Resources, Utz Brands, Inc. “In that spirit of can-do and as we begin to celebrate our 100-year anniversary, we’re extremely proud to continue the tradition of sharing the company’s success with Associates”.

Utz Brands can be found in leading retailers across the United States or available online at Utzsnacks.com. Join the conversation on Facebook, Instagram, and Twitter using @UtzSnacks, and tell us which is your favorite Utz snack food!

Want to join the team? Visit Utz Careers.

#Utzteamrocks

About Utz Brands, Inc.

Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands including Utz®, ON THE BORDER® Chips & Dips, Golden Flake®, Zapp’s®, Good Health®, Boulder Canyon®, Hawaiian® Brand, and TORTIYAHS!®, among others.

After a century with strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchant, club, convenience, drug and other channels. Based in Hanover, Pennsylvania, Utz operates fourteen facilities located in Pennsylvania, Alabama, Arizona, Illinois, Indiana, Louisiana, Washington, and Massachusetts. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210324005634/en/

FAQ

What is the significance of Utz's $6 million profit-sharing announcement?

The $6 million profit-sharing contribution reflects Utz's commitment to its employees and is part of its 401K Profit Sharing Plan, demonstrating its financial success.

How much has Utz contributed to its 401K Profit Sharing Plan since 2000?

Since 2000, Utz has contributed over $75 million to its 401K Profit Sharing Plan.

What recent achievements has Utz Brands reached?

Utz has gone public and acquired ON THE BORDER® and Vitner’s® brands, showcasing its retail growth.

How has the COVID-19 pandemic affected Utz's business in 2020?

Despite the pandemic's challenges, Utz exceeded its expectations by leveraging its essential business operations and the efforts of its team.

What employees are eligible for Utz's profit-sharing plan?

All full-time and part-time Utz Associates based on their tenure are eligible for the 401K Profit Sharing Plan.