Utz Brands to acquire Vitner's snack brand for $25 million

摘要

Utz Brands, Inc. has entered into a agreement to acquire certain assets related to the Vitner's snack brand from Snak-King Corp. for a total purchase price of $25 million. The transaction includes the intellectual property, including the Vitner's trademark, and direct-store delivery distribution assets related to Vitner's branded products. The transaction is subject to customary closing conditions and is expected to close on Feb. 8. Established in 1926, Vitner's is a brand of potato chips, popcorn, corn chips, pork rinds and cheese snacks distributed throughout the Chicago area. The acquisition is expected to strengthen Utz Brands' presence in Chicago and the Midwest. Most of Vitner's products are manufactured by Snak King, but Utz plans to transition manufacturing of most of the products to its own facilities following completion of the transaction.