Utz Quality Foods and Collier Creek Holdings complete business combination to form Utz Brands, Inc.
Transaction introduces Utz as publicly listed company after nearly 100 years as family-owned business
Utz Quality Foods, LLC (“Utz” or the “Company”), a U.S. manufacturer of branded salty snacks, and Collier Creek Holdings (“Collier Creek”) (NYSE: CCH, CCH.U, CCH WS), a special purpose acquisition company, have announced that they have completed their business combination. The transaction has been unanimously approved by the board of directors of Collier Creek and was approved at a special meeting of Collier Creek shareholders on August 27, 2020. Per the terms of the business combination agreement, Collier Creek and Utz have combined to form Utz Brands, Inc. (“Utz Brands”), a leading pure-play snack food platform in the U.S. The common stock of Utz Brands will trade under the ticker symbol “UTZ” on the New York Stock Exchange beginning August 31, 2020.
Founded in 1921, Utz has a strong heritage in the salty snack industry in the U.S. and more than 40 years of continued growth. The Company’s iconic portfolio of authentic, craft, and better-for-you brands includes Utz, Zapp’s, Golden Flake, Good Health, Boulder Canyon, Hawaiian Brand, and TORTIYAHS!, among others . The Company operates 14 manufacturing facilities nationwide with a broad range of capabilities and produces a full line of potato chips, pretzels, cheese snacks, veggie snacks, pork skins, pub / party mixes, tortilla chips and other snacks, including innovative better-for-you snacking options. Utz expects to generate net sales of $932 million in 2020.