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Utz poised to acquire assets of pretzel snack company
Listen to this articleHanover-based Utz Quality foods is set to join the growing filled pretzel market with the acquisition of assets from a Nebraska-based snack company.
Utz Brands, Inc., the new publicly traded parent company of Utz Quality Foods, announced that it plans to close on a deal to acquire certain assets of H.K. Anderson, including the manufacturer’s peanut butter-filled pretzel snacks.
H.K. Anderson is owned by Conagra Brands in Chicago. Conagra’s suite of brands include Slim Jim, Duncan Hines, Hunts, Reddi-wip and Vlasic.
The deal, which is expected to close in November, would cost Utz under $10 million and would introduce Utz to the $100 million filled segment of pretzels, according to Dylan Lissete, CEO of Utz Brands.
“As we look to increase our share in the rapidly expanding salty snack category through new products and geographic growth, this type of acquisition is tailor made for the synergies and growth opportunity afforded by our platform,” Lissette said.
The new product gives the company the opportunity to diversify its offerings in the pretzel space, which it already inhabits with products like Utz Pretzels Sourdough and Utz Pretzels Extra Thins.
The company noted that last year, dollar sales of pretzels increased 10% to $1.4 billion, an increase of more than $120 million.
The H.K. Anderson filled pretzel snacks will be joining other Utz brands such as Utz, Golden Flake, Zapp’s Good Health, Boulder Canyon, Hawaiian and Tortiyahs.
