Potato-chip giant Utz Quality Foods has completed its previously announced $135m acquisition of Alabama based Golden Enterprises, the owner of the Golden Flake Snack Foods. The merger is expected to support Utz Quality Foods’ growth in its core southeastern markets in the US besides expanding its product range.
Based in Birmingham, Alabama, Golden Flake Snack Foods produces, markets, and distributes snack products in the US. Its acquirer UTZ Quality Foods is into similar business but also exports its products outside the US.
Utz Quality Foods CEO Dylan Lissette said: “The two companies are very similar both in mission and values, and each has a team of dedicated associates. Golden Flake’s product line, market coverage, and manufacturing facilities blend well with Utz’s desire to expand and grow our markets in the south.”
Golden Flake’s products include potato chips, corn chips, tortilla chips, fried pork skins, baked and fried cheese curls, puff corn snacks and onion rings, which complement the Utz portfolio along with its production capabilities.
Utz’s portfolio includes Utz, Zapps Potato Chips, “Dirty” Potato Chips. Good Health, Jax, Snikiddy, Waschusett and Bachman brands.
The deal makes Golden Flake a wholly owned subsidiary of Utz and will continue to be run by its existing management team.
Golden Enterprises CEO Mark McCutcheon said: “This merger will allow the Golden Flake brand to continue to grow in our core southeastern markets, while expanding the product selections for our consumers.
“Utz is a very community oriented company, and we look forward to the future that Utz and Golden Flake will create together.”
Based in Pennsylvania, Utz has made about seven acquisitions since 2011 which includes Good Health, Zapp’s, Condor Snack, Keystone Pretzel and the recently acquired Golden Flake Snack Foods.