US snacks specialist Utz Quality Foods has acquired rival Inventure Foods in a US$165m deal.

Pennsylvania-based Utz, said to be the largest privately-held and family-managed branded salty snack manufacturer and marketer in the US, said it is “tremendously excited about the opportunity”.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Utz is a snacks business with brands such as Bachman, Zapp’s and Dirty, while Phoenix-Arizona-based Inventure makes company branded and licensed snacks such as Boulder Canyon Foods, Jamba, Nathan’s Famous and TGI Friday’s.

The $165m purchase price includes the assumption of approximately $75m of debt and debt-like items, net of cash, around $8m of the company’s estimated closing costs and $3m due to equity award holders. 

Dylan Lissette, chief executive officer of Utz, said: “The company’s speciality snack food products and brands, as well as its geographic footprint, customer relationships and distribution strengths, are highly complementary to our business and we look forward to continuing Inventure’s strong heritage of innovation in both healthy and indulgent snacking. 

“We have also been extremely impressed with the team at Inventure, and look forward to working together going forward.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

In July last year, Inventure, after a period of running up losses, launched a “strategic” and “financial” review of its operations. In March this year, the company announced the sale of its Fresh Frozen Foods arm to fellow US vegetable supplier The Pictsweet Company. Last month, Inventure struck a deal to offload its frozen foods business to Oregon Potato Company.

Reflecting on the sale to Utz, Terry McDaniel, the CEO of Inventure, said: “This transaction is the result of diligent analysis and thoughtful strategic deliberations by our board of directors and the result of the strategic and financial review we initiated in July 2016. 

“Our board, with the advice of independent advisors, determined that this transaction will deliver immediate and certain cash value to our stockholders and new opportunities for our snack brands.”