Utz Brands Enters Sale Agreement With Our Home
(Hanover, PA) -- Utz Brands, Inc. has entered into what is described as a definitive agreement to sell some of its subsidiaries to Our Home. Under the deal, Utz will sell its manufacturing facilities in Berlin, PA and Fitchburg, Massachusetts, along with related assets that include Utz Quality Foods, LLC. The purchase price of 18-point-five-million dollars will provide about 14 million dollars in after-tax proceeds, which Utz will use to pay down long-term debt. Utz CEO Howard Friedman says the sale allows the Hanover-based snack food maker to continue investment in its eight remaining facilities.