Utz Brands to Buy Festida Foods for $41 Million
06:27 AM EDT, 05/11/2021 (MT Newswires) -- Utz Brands (UTZ), a US maker of branded salty snacks, said Tuesday that its units have agreed to acquire Festida Foods, a maker of tortilla chips, corn chips and pellet snacks from Great Lakes Festida Holdings for $41 million.
Utz said it expects the deal, which is set to close in Q2, to be accretive to EPS this year and beyond.
Utz said it expects to draw on its revolving credit facility to fund the $41 million cash purchase price.
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