Financial Advisor
Utz Brands, Inc.
M&A Advisory
Has Acquired
Transaction Details
- On December 14, 2017, Utz Quality Foods, LLC, the largest privately-held and family-managed branded salty snack company in the United States, announced the successful completion of its acquisition of Inventure Foods, Inc. (NASDAQ: SNAK), a marketer and manufacturer of specialty food brands in the better-for-you and indulgent categories.
- Utz successfully completed its tender offer for all the outstanding shares of common stock of Inventure Foods (“Shares”) at a price of approximately $4.00 per share. As of the expiration of the tender offer on December 13th, approximately 15,249,164 Shares were tendered, representing approximately 77% of the currently outstanding Shares.
- Inventure Foods’ specialty snack food products and brands, as well as its geographic footprint, customer relationships, and distribution strengths, are highly complementary to Utz’s business. Under a unified umbrella, each company’s growth prospects will be enhanced. Like Utz, Inventure Foods’ product suite is strong in both healthy and indulgent snacking.
- Stephens Inc. acted as the exclusive financial advisor to Utz Quality Foods.
About the company
Utz Quality Foods, LLC
Founded in 1921, Utz® Quality Foods, LLC is the largest privately-held and family-managed branded salty snack company in the United States, producing a full line of products including potato chips, pretzels, cheese snacks, corn chips, tortillas, veggie stix/straws, popcorn, onion rings, pork skins and more. Its brands, which include Utz®, Golden Flake®, Zapp’s®, “Dirty”® Potato Chips, Good Health®, Bachman®, Bachman Jax®, Wachusett® and Snikiddy® among others, are distributed nationally and internationally through grocery, mass-merchant, club stores, convenience stores, drug stores, and other channels. Based in Hanover, PA, Utz operates 10 facilities located in Pennsylvania, Colorado, Louisiana, Massachusetts, and Alabama.
Inventure Foods, Inc.
With manufacturing facilities in Arizona and Indiana, Inventure Foods, Inc. (Nasdaq:SNAK) is a marketer and manufacturer of specialty food brands in better-for-you and indulgent categories under a variety of Company-owned and licensed brand names, including Boulder Canyon Foods™, TGI Fridays™, Nathan's Famous®, Vidalia Brands®, Poore Brothers®, Tato Skins®, and Bob's Texas Style®.
Sources: Company press releases
-
This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from external sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request