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UTZ® ADDS NEW SOUR CREAM & ONION FLAVOR TO MIXED MINIS® PRETZEL LINE
HANOVER, Pa. (BUSINESS WIRE) — Utz®, a leading U.S. salty snack brand, has introduced Sour Cream & Onion flavor to its Mixed Minis Pretzel line. The new flavor is inspired by the brand’s top-selling flavored potato chip and brings the bold taste to Utz’s crunchy, bite-sized pretzels. Sour Cream & Onion Mixed Minis, available in 12-ounce packages, feature a savory blend of tangy sour cream and bold onion flavors, creating a deliciously balanced bite. The Utz Mixed Minis Pretzel line first launched in February 2024 and brings a fun twist to classic Utz Pretzels in the form of three bite-sized shapes: Twists, Rings and Waffles. Sour Cream & Onion joins two existing flavors in the line, including: • Garlic Butter: deliciously seasoned pretzels covered with a rich and savory flavor combination of garlic and butter• Mike’s Hot Honey®: the perfect balance of sweet heat from Mike’s Hot Honey combined with the satisfying crunch of Utz pretzels “At Utz, we are always looking for ways to bring bold flavors to snack lovers,” said Stacey Schultz, senior vice president of marketing, Utz Quality Foods, LLC, a subsidiary of Utz Brands, Inc. “By bringing one of our most beloved potato chip flavors into our Mixed Minis Pretzel line, we’re giving fans a whole new way to enjoy that irresistible taste and crunch they love.” In addition to expanding the Mixed Minis line, Utz recently added Mini Twists Pretzels in a new 16-ounce size to its lineup. These bite-sized twists showcase Utz’s commitment to unmatched flavor, using treasured family recipes to create the most flavorful snacks. Crafted through a perfected process that ensures the right amount of crunch in every bite, these pretzels can be enjoyed straight from the bag or paired with dips for extra flavor. Utz products are available online at utzsnacks.com and at leading retailers nationwide. To learn more about Utz, connect on Facebook, Instagram, and TikTok. #UTZMIXEDMINISPRETZELS About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com
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ZAPP’S® BRINGS BOLD FLAVOR TO NEW ORLEANS FOR CARNIVAL SEASON
HANOVER, Pa. – Zapp’s, a bold, daringly different brand of chips and pretzels inspired by the flavors of New Orleans, is celebrating the Mardi Gras season with the launch of its new Big Cheezy Sinfully-Seasoned® Pretzel Stix, adding extra flavor to the city’s already electric atmosphere. Big Cheezy Pretzel Stix are coated with a blend of cheddar cheese flavor and Cajun seasoning for a flavorful, crunchy pretzel. The new flavor joins Zapp’s existing Sinfully-Seasoned Pretzel Stix lineup, which includes Voodoo®, Jazzy Honey Mustard, Sweet Cinnamon & Sugar, and Spicy Cajun. “Zapp's is rooted in the unique flavors and fun of New Orleans and is inspired by all the city has to offer,” said Utz Quality Foods, LLC a subsidiary of Utz Brands, Inc. Senior Vice President of Marketing Stacey Schultz. “Carnival and Mardi Gras is the city’s signature season and the perfect time to introduce the Big Cheezy Pretzel Stix, a bold snack inspired by the spirit of New Orleans.” Available in 1.5-ounce bags and 16-ounce bags, Big Cheezy Pretzel Stix are twisted to hold more of Zapp’s special, secret seasonings for a bigger, bolder flavor Zapp’s fans crave. Leading up to Mardi Gras, Zapp’s gave fans who won a spot on its exclusive Tastemaker Tours the opportunity to join in on an unforgettable Mardi Gras experience in the heart of NOLA. The tours highlighted the city’s unique flavors and culture, including sampling experimental menu items at a local bakery, joining a Mardi Gras parade, enjoying a jazz tour at the New Orleans Jazz Museum, and visiting the historic St. Louis Cemetery. This hands-on experience allowed guests to immerse themselves in the true essence of New Orleans, and Chanen and Juwan Johnson and Kool-Aid McKinstry surprised and delighted a tour, creating an unforgettable experience. Fans looking to experience some of the Tastemaker spots can follow @RealZappsChips for details. To learn more about Zapp's and its new flavors, visit Zapp’s website or connect with Zapp’s on Facebook, Instagram, and TikTok. And, as always, “Laissez les bons temps rouler!” #ZAPPS #ZAPPSPRETZELS # # # About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s® and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com
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BOULDER CANYON® SHOWCASES NEW AND BESTSELLING PRODUCTS AT NATURAL PRODUCTS EXPO WEST 2025
HANOVER, Pa. (BUSINESS WIRE) — Boulder Canyon®, a pioneer in the better-for-you snack movement, will showcase its distinctive snacks at the Natural Products Expo West 2025, held March 4-7 at the Anaheim Convention Center, in Hall A, Booth 1017. Boulder Canyon offers a variety of snacks, most of which are made with avocado oil and are non-GMO verified. At Expo West, Boulder Canyon will sample new and fan-favorite products, including: NEW Boulder Batch – Mike’s Hot Honey® potato chips, featuring hot honey for a sweet, spicy crunch, launch in April. NEW Tortilla Chips, made with avocado oil and lightly seasoned, available in Sea Salt, Blue Corn, and Lime & Sea Salt, launch in May. · Wavy Chips, new, ridged potato chips cooked in avocado oil, debuted exclusively at Whole Foods Market in September 2024 and offer a softer bite compared to a traditional kettle chip. Available nationally in Sea Salt and Cheddar Sour Cream. The brand will also be showcasing some of its bestsellers, including: · Canyon Poppers®, the brand’s first expansion beyond traditional chips, were introduced last year in Aged White Cheddar and Jalapeño Ranch. · Avocado Oil Hickory Barbeque Kettle Cooked Potato Chips, made with high-quality potatoes and cooked in small batches, feature a sweet, smoky flavor with garlic and onion. · Multipacks & Variety Packs, recently introduced in a variety of sizes, feature Boulder Canyon’s best-selling avocado oil products in convenient single-serve bags. “At Expo West, we’re giving a first look at Boulder Canyon’s latest innovations, including our new Tortilla Chips and Wavy Potato Chips, both cooked in avocado oil,” said Vice President of Marketing Korlin Serauskis of Utz Quality Foods, LLC, a subsidiary of Utz Brands, Inc. “Boulder Canyon has always been committed to delivering bold, better-for-you snacks, and this year, we’re continuing the tradition by introducing flavors and forms that elevate the snacking experience and set a new standard for the category.” Boulder Canyon products are available for purchase online at www.bouldercanyon.com or from leading retailers nationwide. For more information, follow Boulder Canyon on Facebook, Instagram and TikTok. About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s® and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities across the U.S. to serve its growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com
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Utz Brands Announces Opening of Rice Distribution Center
HANOVER, PA -- (BUSINESS WIRE) – Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks, is pleased to announce the opening of the Rice Distribution Center - a brand new, state-of-the-art logistics center located in Hanover, Pennsylvania. The logistics center is named in honor of Michael W. Rice, the grandson of Bill and Salie Utz, who recently retired after over 50 years of service with Utz. The 650,000 square foot center will serve as the primary logistics hub for inventory storage, consolidation and distribution for Utz facilities located across the United States. The center boasts 73 dock doors and 375 trailer parking spots and will utilize advanced warehouse management system functionality. To put the size of this building into context, it could house approximately 11 football fields, 9 Boeing 747s, and 46.8 million Utz Cheese Ball “barrels” inside its four walls. Additionally, we estimate that this facility will touch 2.3 million pallets of product and 1.1 billion pounds of product per year, which amounts to an estimated 18 billion snack food servings. Thanks to the collaboration of the Borough of Hanover, Adams County, PennDOT, and the Governor’s Office of Transformation and Opportunity, a new traffic light will be installed at the intersection of High Street and Kindig Lane simultaneous to the opening of the Rice Distribution Center. This will ease congestion on these busy streets surrounding Utz Hanover operations. Pennsylvania Governor Josh Shapiro is scheduled to attend the invitation-only ribbon-cutting ceremony on December 5, 2024. Conewago Enterprises, Inc., a family-owned design-build general contractor serving the Mid-Atlantic region and beyond, with headquarters only 2 miles from the new center, was the building partner on the new warehouse facility. "It’s been an honor to be part of the Utz journey over the last 50 + years. This new logistics center represents the Company’s historic values of reinvestment, growth, hard work, and putting our customers first. I’m proud of what we’ve accomplished together, and I know this facility will help drive even greater success in the future," said Michael W. Rice. “Our new logistics center reflects our commitment to operational excellence and growth,” said Howard Friedman, CEO of Utz Brands, Inc. “The facility expands capacity, enhances efficiency, and streamlines operations for our customers, and we are proud to honor Mike Rice’s extraordinary legacy through it. A sincere thanks to the state of Pennsylvania and our many local agencies for their help and support in bringing this vision to life in a way that alleviates traffic flow and congestion in our community.” Utz Brands snack foods are available in leading retailers across the U.S. or online at Utzsnacks.com. Use @UtzSnacks on Facebook, Instagram, and TikTok to join the conversation. # # # About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve its growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX Forward-Looking Statements Certain statements made herein are not historical facts but are "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements generally are accompanied by or include, without limitation, statements such as "will," "expect," "intends," "goal," or other similar words, phrases, or expressions. These statements are based on the current expectations of the Company's management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties, and the Company's business and actual results may differ materially. Investor Contact Utz Brands, Inc. Kevin Powers kpowers@utzsnacks.com Media Contact Utz Brands, Inc. Kevin Brick kbrick@utzsnacks.com
Read moreUtz Brands Reports Third Quarter 2024 Results and Reaffirms 2024 Outlook
Hanover, PA – October 31, 2024 – Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded Salty Snacks and a small-cap value Staples equity, today reported financial results for the Company’s fiscal third quarter ended September 29, 2024. 3Q’24 Summary(1) Net Sales of $365.5 million Organic Net Sales increased 9% Gross Profit Margin expansion of 370bps Adjusted Gross Profit Margin expansion of 270bps Net Income of $0.8 million Adjusted EBITDA increased 6% to $54.0 million Diluted loss per share of $(0.03) Adjusted Earnings Per Share increased 5% to $0.21 (1) All comparisons for the third quarter of 2024 are compared to the third quarter ended October 1, 2023. "In the third quarter our momentum continued with solid Organic Net Sales growth, our seventh consecutive quarter of Adjusted EBITDA Margin expansion, and Adjusted Earnings Per Share growth of nearly 24%,” said Howard Friedman, Chief Executive Officer of Utz. “We are executing well on our distribution growth opportunities, and we believe our accelerated productivity cost savings will give us the flexibility to expand our margins and increase investments in our brands to support our continued growth. While we continue to expect a more competitive promotional environment in response to consumers seeking value, we will continue to make appropriate adjustments to our activities to meet consumer expectations. We are on track to meet our full-year financial targets, and we look forward to a strong finish to the year.” Third Quarter 2024 Results Third quarter net sales of $365.5 million compared to $371.9 million in the prior year period. The divestiture of the R.W. Garcia® and Good Health® brands impacted net sales by (3.6%). Organic Net Sales increased by 1.9% led by favorable volume/mix of 2.4% driven by strong growth of the Company’s Power Brands, partially offset by lower net price realization of (0.5%). For the 13-week period ended September 29, 2024, the Company’s retail sales, as measured by Circana MULO-C, decreased by 1.3% versus the prior-year period. The Company’s total Power Brands’ retail sales decreased by 1.2% versus the prior-year period and the Company’s Power Four Brands of Utz®, On The Border®, Zapp’s® and Boulder Canyon® decreased by 0.6%. Utz’s retail sales trends were primarily impacted by a more competitive promotional environment in potato chips, and also softness in the convenience store channel. Despite this, the Company’s retail volumes increased by 0.4% compared to a 0.2% decline for the Salty Snack category. Further, Utz’s Organic Net Sales growth outpaced retail sales growth driven primarily by solid performance in non-measured channels and planned strong seasonal shipments to support incremental merchandising events compared to the prior year. Gross profit margin of 35.8% expanded 370bps compared to 32.1% in the prior year period. Adjusted Gross Profit Margin of 39.0% expanded 270bps compared to 36.3% in the prior year period. These increases were driven by benefits from productivity and favorable sales volume/mix, which more than offset supply chain cost inflation, investments to support the Company’s productivity initiatives, and disciplined promotional investments. SD&A expenses were $110.0 million, compared to $105.5 million in the prior year period. Adjusted SD&A Expenses were $88.7 million compared to $83.0 million in the prior year period, primarily due to increased marketing spend, higher distribution costs, and investments in selling capabilities to support distribution growth in Expansion geographies. These expenses were partially offset by productivity benefits related to logistics costs included in distribution. The Company reported net income of $0.8 million compared to net income of $16.2 million in the prior year period. The change in net income was primarily due to an increase in the loss on the remeasurement of the warrant liability of $22.4 million. Adjusted Net Income in the quarter increased 20.3% to $29.6 million compared to $24.6 million in the prior year period. Adjusted Earnings Per Share increased 23.5% to $0.21 compared to $0.17 in the prior year period. The Adjusted Earnings Per Share growth in the third quarter was the result of operating earnings growth, lower Core Depreciation and Amortization Expense, and lower interest expense as a result of increased long-term debt repayment. Adjusted EBITDA increased 3.6% to $54.0 million, or 14.8% as a percentage of net sales, compared to $52.1 million, or 14.0% as a percentage of net sales, in the prior year period. The Adjusted EBITDA Margin improvement was driven by Adjusted Gross Margin expansion primarily due to the Company’s productivity programs. Balance Sheet and Cash Flow Highlights As of September 29, 2024 Total liquidity of $223.7 million, consisting of cash on hand of $64.9 million and $158.8 million available under the Company’s revolving credit facility. Net debt of $731.5 million resulting in a Net Leverage Ratio of 7x based on trailing twelve months Normalized Adjusted EBITDA of $196.5 million. For the thirty-nine weeks ended September 29, 2024 Cash flow provided by operations was $52.0 million, which reflects strong working capital performance in the third quarter. In addition, cash flow from operations also includes an approximately $30 million negative impact from the sale of Good Health® and R.W. Garcia®, and the manufacturing facilities. Capital expenditures were $60.9 million, and dividends and distributions paid were $30.8 Fiscal Year 2024 Outlook The Company is reaffirming its outlook for Organic Net Sales growth of 2%-2.5%. The Company continues to expect Organic Net Sales growth driven by volume growth that will be fueled by increased marketing investments, product innovation, already achieved distribution gains, and a more favorable fourth quarter growth comparison. The Company’s outlook also assumes net sales will be impacted by approximately $45 million due to the sale of the Good Health® and R.W. Garcia® The Company is reaffirming its outlook for Adjusted EBITDA growth of 5%-8% and assumes the estimated impact of the forgone profit contribution from the brands divested in February 2024 are mostly offset by accelerated cost savings and the transition services agreement. The Company is reaffirming its outlook for Adjusted Earnings per Share growth of 28%-32%. The Company continues to expect growth driven by increased operating earnings, a more favorable effective tax rate, and lower core depreciation and amortization expense resulting from the Company’s plant divestitures in April 2024. The Company also expects: An effective tax rate (normalized GAAP basis tax expense, which excludes one-time items) in the range of 17%-19% (unchanged); Interest expense of approximately $47 million (unchanged); Capital expenditures in the range of $80-$90 million (unchanged); and Net Leverage Ratio of approximately 3.6x (unchanged) at year-end fiscal 2024. Quantitative reconciliations are not available for the forward-looking non-GAAP financial measures used herein without unreasonable efforts due to the high variability, complexity, and low visibility with respect to certain items which are excluded from Organic Net Sales, Adjusted EBITDA, Net Leverage Ratio, normalized GAAP basis tax expense, excluding one-time items, and Adjusted Earnings Per Share, respectively. We expect the variability of these items to have a potentially unpredictable, and potentially significant, impact on our future financial results. Conference Call and Webcast Presentation The Company has also posted a pre-recorded management discussion of its third quarter results to its website at https://investors.utzsnacks.com. In addition, the Company will host a live question and answer session with analysts at 8:00 a.m. Eastern Time today. Please visit the “Events & Presentations” section of Utz’s Investor Relations website at https://investors.utzsnacks.com to access the live listen-only webcast. Participants can also dial in over the phone by calling 1-888-596-4144. The Event Plus passcode is 3860587. The Company has also posted presentation slides and additional supplemental financial information, which are available now on Utz’s Investor Relations website. About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit the Company’s website or call 1‐800‐FOR‐SNAX. Investors and others should note that Utz announces material financial information to its investors using its Investor Relations website, U.S. Securities and Exchange Commission (the “Commission”) filings, press releases, public conference calls, and webcasts. Utz uses these channels, as well as social media, to communicate with our stockholders and the public about the Company, the Company’s products, and other Company information. It is possible that the information that Utz posts on social media could be deemed to be material information. Therefore, Utz encourages investors, the media, and others interested in the Company to review the information posted on the social media channels listed on Utz’s Investor Relations website. Investor Contact Kevin Powers Utz Brands, Inc. kpowers@utzsnacks.com Media Contact Kevin Brick Utz Brands, Inc. kbrick@utzsnacks.com Forward-Looking Statements This press release includes certain statements made herein that are not historical facts but are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements generally are accompanied by or include, without limitation, statements such as “will,” “expect”, “intends”, “goal”, “on track” or other similar words, phrases or expressions. These forward-looking statements include future plans for the Company, including outlook for fiscal 2024, plans related to the transformation of the Company’s supply chain, the Company’s product mix, the Company’s ability to reduce debt, and the anticipated interest expense savings from the repricing of the $630 million Term Loan; the estimated or anticipated future results and benefits of the Company’s future plans and operations; the Company’s cost savings plans and the Company’s logistics optimization efforts; the estimated or anticipated future results and benefits of the Company’s plans and operations; the effects of inflation or supply chain disruptions on the Company or its business; the benefits of the Company’s productivity initiatives; the effects of the Company’s marketing and innovation initiatives; the Company’s future capital structure; future opportunities for the Company’s growth; statements regarding the Company’s projected balance sheet and liabilities, including net leverage; and other statements that are not historical facts. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties and the Company’s business and actual results may differ materially. Some factors that could cause actual results to differ include, without limitation: the risk that the Company’s gross profit margins may be adversely impacted by a variety of factors, including variations in pricing of raw materials, retail customer requirements and mix, sales velocities, and required promotional support; changes in consumers’ loyalty to the Company’s brands due to factors beyond the Company’s control, including changes in consumer spending due to factors such as increasing household debt; changes in demand for the Company’s products affected by changes in consumer preferences and tastes or if the Company is unable to innovate or market its products effectively, particularly in the Company’s “expansion geographies”; costs associated with building brand loyalty and interest in the Company’s products which may be affected by actions by the Company’s competitors that result in the Company’s products not being suitably differentiated from the products of their competitors; consolidation of key suppliers of the Company; any inability of the Company to adopt efficiencies into its manufacturing processes, including automation and labor optimization, its network, including through plant consolidation and lowest landed cost for shipping its products, or its logistics operations; fluctuations in results of operations of the Company from quarter to quarter because of changes in promotional activities; the possibility that the Company may be adversely affected by other economic, business, or competitive factors; the risk that recently completed business combinations and other acquisitions recently completed by the Company or dispositions disrupt plans and operations; the ability of the Company to recognize the anticipated benefits of such business combinations, acquisitions, or dispositions, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; the outcome of any legal proceedings that may be instituted against the Company following the consummation of such business combinations, acquisitions, or dispositions; changes in applicable law or regulations; costs related to any planned business combinations, acquisitions, or dispositions; the ability of the Company to develop and maintain effective internal controls; and other risks and uncertainties set forth in the section entitled “Risk Factors” and “Forward-Looking Statements” in the Company’s Annual Report on Form 10-K filed with the Commission for the fiscal year ended December 31, 2023, and other reports filed by the Company with the Commission. Forward-looking statements provide the Company’s expectations, plans or forecasts of future events and views as of the date of this communication. These forward-looking statements should not be relied upon as representing the Company’s assessments as of any date subsequent to the date of this communication. The Company cautions investors not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based, except as otherwise required by law. Non-GAAP Financial Measures: Utz uses non-GAAP financial information and believes it is useful to investors as it provides additional information to facilitate comparisons of historical operating results, identifies trends in our underlying operating results, and provides additional insight and transparency on how we evaluate the business. We use non-GAAP financial measures to budget, make operating and strategic decisions, and evaluate our performance. These non-GAAP financial measures do not represent financial performance in accordance with generally accepted accounted principles in the United States (GAAP) and may exclude items that are significant to understanding and assessing financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations, earnings per share or other measures of profitability, liquidity, or performance under GAAP. You should be aware that the presentation of these measures may not be comparable to similarly titled measures used by other companies. Management believes that non-GAAP financial measures should be considered as supplements to the GAAP measures reported, should not be considered replacements for, or superior to, the GAAP measures, and may not be comparable to similarly named measures used by other companies. The Company’s calculation of the non-GAAP financial measures may differ from methods used by other companies. We believe that these non-GAAP financial measures provide useful information to investors regarding certain financial and business trends relating to the financial condition and results of operations of the Company to date when considered with both the GAAP results and the reconciliations to the most comparable GAAP measures, and that the presentation of non-GAAP financial measures is useful to investors in the evaluation of our operating performance compared to other companies in the Salty Snack industry, as similar measures are commonly used by the companies in this industry. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which items of expense and income are excluded or included in determining these non-GAAP financial measures. The non-GAAP financial measures are not recognized in accordance with GAAP and should not be viewed as an alternative to GAAP measures. As new events or circumstances arise, these definitions could change. When the definitions change, we will provide the updated definitions and present the related non-GAAP historical results on a comparable basis. Utz uses the following non-GAAP financial measures in its financial communications, and in the future could use others: Organic Net Sales Adjusted Gross Profit Adjusted Gross Profit as % of Net Sales (Adjusted Gross Profit Margin) Adjusted Selling, Distribution, and Administrative Expense Adjusted Selling, Distribution, and Administrative Expense as % of Net Sales Adjusted Net Income Adjusted Earnings Per Share EBITDA Adjusted EBITDA Adjusted EBITDA as % of Net Sales (Adjusted EBITDA Margin) Normalized Adjusted EBITDA Effective Normalized Tax Rate Net Leverage Ratio Organic Net Sales is defined as net sales excluding the impacts of acquisitions, divestitures, and IO route conversions. Adjusted Gross Profit represents Gross Profit excluding Depreciation and Amortization expense, a non-cash item. In addition, Adjusted Gross Profit excludes the impact of costs that fall within the categories of non-cash adjustments and non-recurring items such as those related to stock-based compensation, hedging and purchase commitments adjustments, asset impairments, acquisition and integration costs, business transformation initiatives, and financing-related costs. Adjusted Gross Profit is one of the key performance indicators that our management uses to evaluate operating performance. We also report Adjusted Gross Profit as a percentage of Net Sales as an additional measure for investors to evaluate our Adjusted Gross Profit Margin on Net Sales. Adjusted Selling, Distribution, and Administrative Expense is defined as all Selling, Distribution, and Administrative expense excluding Depreciation and Amortization expense, a non- cash item. In addition, Adjusted Selling, Distribution, and Administrative Expense excludes the impact of costs that fall within the categories of non-cash adjustments and non-recurring items such as those related to stock-based compensation, hedging and purchase commitments adjustments, asset impairments, acquisition and integration costs, business transformation initiatives, and financing-related costs. We also report Adjusted Selling, Distribution, and Administrative Expense as a percentage of Net Sales as an additional measure for investors to evaluate our Adjusted Selling, Distribution, and Administrative Margin on Net Sales. Adjusted Net Income is defined as Net Income excluding the additional Depreciation and Amortization expense, a non-cash item, related to the Business Combination with Collier Creek Holdings and the acquisitions of Kennedy Endeavors, Kitchen Cooked, Inventure, Golden Flake, Truco Enterprises, R.W. Garcia and Festida. In addition, Adjusted Net Income is also adjusted to exclude deferred financing fees, interest income, and expense relating to IO loans and certain non-cash items, such as those related to stock-based compensation, hedging, and purchase commitments adjustments, asset impairments, acquisition and integration costs, business transformation initiatives, remeasurement of warrant liabilities and financing-related costs. Lastly, Adjusted Net Income normalizes the income tax provision to account for the above-mentioned adjustments. Adjusted Earnings Per Share is defined as Adjusted Net Income (as defined above) divided by the weighted average shares outstanding for each period on a fully diluted basis, assuming the Private Placement Warrants are net settled and the Shares of Class V Common Stock held by Continuing Members are converted to Class A Common Stock. EBITDA is defined as Net Income Before Interest, Income Taxes, and Depreciation and Amortization. Adjusted EBITDA is defined as EBITDA further adjusted to exclude certain non-cash items, such as stock-based compensation, hedging and purchase commitments adjustments, asset impairments, acquisition and integration costs, business transformation initiatives; and financing-related costs. Adjusted EBITDA is one of the key performance indicators we use in evaluating our operating performance and in making financial, operating, and planning decisions. We believe Adjusted EBITDA is useful to the users of this release because the financial information contained in the release can be used in the evaluation of Utz’s operating performance compared to other companies in the Salty Snack industry, as similar measures are commonly used by companies in this industry. We also provide in this release, Adjusted EBITDA as a percentage of Net Sales, as an additional measure for readers to evaluate our Adjusted EBITDA Margin on Net Sales. Normalized Adjusted EBITDA is defined as Adjusted EBITDA after giving effect to pre-acquisition Adjusted EBITDA for certain acquisitions and dispositions from time to time. Effective Normalized Tax Rate is defined as normalized GAAP basis tax expense, which excludes one-time items, divided by Adjusted Earnings before Tax. Net Leverage Ratio is defined as Normalized Adjusted EBITDA divided by Net Debt. Net Debt is defined as Gross Debt less Cash and Cash Equivalents.
Read moreZapp’s Rolls With Krewe of BOO!
HANOVER, Pa. – (BUSINESS WIRE) -- Zapp’s™, a Cajun-inspired brand of kettle-style potato chips and Pretzel Stix, is bringing its parade of flavors and festive energy to New Orleans’ premier Halloween celebration as the official potato chip partner of Krewe of BOO!, New Orleans’ Official Halloween Parade. Zapp’s will bring bold flavors to three Halloween events on Saturday, Oct. 19: New Orleans Zombie Run: Locals are invited to join in on the zombie-themed 2-mile race that begins at 9 a.m. in the Warehouse District and ends on Frenchmen Street. Halloween Parade: The annual Krewe of BOO! Halloween Parade begins at 6:30 p.m. on Elysian Fields, making its way through the French Quarter and ending on Tchoupitoulas Street. Zapp’s will roll in its iconic vintage fire truck, and all Krewe members will hand out samples of its beloved potato chips to paradegoers, including Voodoo® and Spicy Cajun Crawtators®. Monster Mash: The parade after-party starts at 8 p.m. for all paradegoers who purchase a ticket. The night will include a DJ, live music and a costume contest. “Zapp’s Cajun-inspired flavors, like Voodoo and Evil Eye®, are amazingly flavorful snacks for paradegoers at this year’s Krewe of BOO! Halloween Celebration,” said Utz Brands®, Inc. Senior Vice President of Marketing Stacey Schultz. “Whether you’re celebrating in New Orleans or your own neighborhood, Zapp’s irresistible flavors can help anyone get in the spirit of the season.” Zapp’s potato chips and Pretzel Stix can be found in major mass, grocery and convenience retailers across the United States and online at utzsnacks.com. Zapp’s Voodoo Halloween Multipack Sacks are now available for purchase at Target®, allowing fans to experience the flavors of New Orleans at home. To learn more about Zapp’s and its new flavors, visit Zapp’s website or connect with Zapp’s on Facebook, Instagram and TikTok. And, as always, “Laissez les bons temps rouler!” #ZAPPS # # # About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s® and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com
Read moreUtz Brands to Report Third Quarter 2024 Financial Results on October 31, 2024
HANOVER, Pa. -- (BUSINESS WIRE) -- Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks, today announced it plans to report its third quarter 2024 financial results on Thursday, October 31, 2024. A press release, pre-recorded management remarks, and slide presentation will be issued that morning at 6:30 a.m. Eastern Time, followed by a live webcast question and answer session with analysts at 8:00 a.m. Eastern Time. Please visit the “Events & Presentations” section of Utz’s Investor Relations website at https://investors.utzsnacks.com to access these materials and webcast. # # # About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve its growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX Investors and others should note that Utz announces material financial information to its investors using its investor relations website (investors.utzsnacks.com), SEC filings, press releases, public conference calls and webcasts. Utz uses these channels, as well as social media, to communicate with our stockholders and the public about the Company, the Company’s products, and other issues. It is possible that the information that Utz posts on social media could be deemed to be material information. Therefore, Utz encourages investors, the media, and others interested in the Company to review the information posted on the social media channels listed on Utz’s investor relations website. Investor Contact Utz Brands, Inc. Kevin Powers kpowers@utzsnacks.com Media Contact Utz Brands, Inc. Kevin Brick kbrick@utzsnacks.com
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UTZ BRANDS FEATURES NEW AND UPCOMING FLAVORS AT NACS SHOW 2024
Zapp’s® and Utz® to showcase variety of innovative products at upcoming expo HANOVER, Pa. (BUSINESS WIRE) — Utz Brands, Inc., a leading U.S. manufacturer of branded salty snack foods for more than 100 years, will showcase its bold and distinctive snacks at the 2024 National Association of Convenience Stores (NACS) Show, held October 8-10 at the Las Vegas Convention Center. Zapp’s and Utz will preview upcoming new potato chip and pretzel flavors and highlight a variety of popular products from many of Utz’s beloved brands at North Hall booth 2847. Zapp’s will offer NACS attendees a sneak preview of its new Big Cheezy Sinfully-Seasoned™ Pretzel Stix, available February 2025. The new pretzels feature the same flavor profile as recently introduced Big Cheezy potato chips, which are topped with a blend of cheddar cheese, sour cream and Cajun seasoning, delivering a flavorful, crunchy snack that puts a cheesy twist on a classic New Orleans taste. Utz will also showcase a soon-to-be-released flavor addition to its new Mixed Minis™ pretzel line: Sour Cream & Onion, available February 2025. Mixed Minis, which launched in February 2024, are bite-sized and perfectly crafted through a special two-part baking process to guarantee the signature crisp and crunch Utz fans crave. The new flavor joins Garlic Butter and Mike’s Hot Honey® Mixed Mini pretzels, currently available in 4- and 12-ounce packaging. “This year’s NACS Show is the perfect stage to preview upcoming flavor innovations like Zapp’s Big Cheezy Sinfully-Seasoned Pretzel Stix and Sour Cream & Onion Mixed Minis ahead of their official releases,” said Utz Brands, Inc., Executive Vice President, Sales and Chief Customer Officer Mark Schreiber. “At Utz, we’re not just evolving; we’re building on a century of tradition, pushing the boundaries of flavor and setting a new standard for what consumers expect from snacking.” In addition to Utz and Zapp’s, the company will be sampling a variety of flavorful snacks from its portfolio of brands, such as Boulder Canyon®, Hawaiian Brand®, Jax®, Golden Flake® and TGI Fridays®. Utz Brands products are available for purchase online at www.utzsnacks.com or in leading retailers nationwide. For more information, follow Utz on Facebook, Instagram and TikTok, Zapp’s on Facebook, Instagram and TikTok, and Boulder Canyon on Facebook, Instagram and TikTok. About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s® and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, club, convenience, drug and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities across the U.S. to serve its growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com
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UTZ LAUNCHES NEW CRUNCH & FLAVOR CAMPAIGN
New campaign celebrates Utz’s family-crafted process to deliver crunch and flavor over everything! HANOVER, Pa. (BUSINESS WIRE) — Utz®, a leading U.S. salty snack brand, has launched a new advertising campaign that puts the spotlight on its signature crunch and flavors. For over 100 years, Utz has been crafting snacks that deliver unmatched taste and texture using family-owned recipes and quality ingredients. The new “Crunch & Flavor Over Everything” campaign celebrates this legacy, introducing a Chief Crunch & Flavor Officer who embodies Utz’s goal of ensuring that every Utz snack offers the perfect blend of satisfying crunch and mouthwatering flavor. Unmatched Flavor: Utz uses quality ingredients and treasured family recipes in its quest for the most flavorful snacks. Crafted Crunch: Utz uses a crafted process perfected over generations to deliver the right amount of crunch in every bite. “We’ve introduced many new and innovative flavors and forms to our snack lineup over the last century. The ‘Crunch & Flavor Over Everything’ campaign highlights our ongoing commitment to the quality and care that make every Utz snack uniquely satisfying,” said Utz Brands, Inc., Marketing Director Amber McGrogan. “As our creative brand partner, The Sasha Group helped bring this campaign to life in a fun and engaging way for both new and loyal fans. To check out the latest Utz campaign, visit Utz on Instagram. To discover what Utz is all about, visit the Utz website or connect on Facebook, Instagram, and TikTok. #CRUNCHANDFLAVOR About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. MEDIA CONTACT: SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com
Read moreUtz Brands, Inc. Declares Quarterly Cash Dividend
Hanover, PA, (Business Wire) September 5, 2024 – Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded salty snacks and a small-cap value and growth Staples equity, today announced that its Board of Directors has declared a regular quarterly cash dividend of approximately $0.059 per share on the Company’s Class A Common Stock, as well as an additional cash dividend of approximately $0.011 per share. Payment is expected to be made by the Company on October 3, 2024, to stockholders of record at the close of business on September 16, 2024. The cash dividend includes a regular quarterly cash dividend of $0.059 per share and an additional cash dividend in the aggregate amount of approximately $0.9 million, which is approximately $0.011 per share. This additional cash dividend reflects growth in the Company’s pre-tax income from improved operating performance and will be funded from a portion of the tax distribution paid or to be paid by Utz Brands Holdings to Utz that is in excess of corporate taxes payable by the Company. Future declarations of quarterly or other dividends are subject to the determination and discretion of Utz’s Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition and other factors that the Board may deem relevant. About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz ®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century of strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz’s products are distributed nationally through grocery, mass merchandisers, clubs, convenience stores, drug stores, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. Forward-Looking Statements Certain statements made herein are not historical facts but are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements generally are accompanied by or include, without limitation, statements such as “will”, “expect”, “intends”, “goal” or other similar words, phrases or expressions. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties and the Company’s business and actual results may differ materially. Utz Brands, Inc. Investors Kevin Powers kpowers@utzsnacks.com Media Kevin Brick kbrick@utzsnacks.com
Read moreUtz Brands Completes Acquisition of Strategic Distribution Rights of National Food Corp
The acquisition includes ~65 Routes in South Florida to enhance local DSD capabilities and to support geographic expansion opportunities to drive growth Hanover, PA – August 12, 2024 – Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded Salty Snacks and a small-cap value and growth Staples equity, is pleased to announce that it has entered into a definitive agreement to purchase certain distribution rights in South Florida from an existing third-party direct-store delivery (“DSD”) distributor, National Food Corp (“National Food”). This acquisition of ~65 DSD routes in South Florida, covering Miami, Fort Lauderdale, West Palm Beach, Naples, and Fort Myers represents Utz’s second transaction with National Food. The first transaction occurred in March 2021, and involved the acquisition of 21 DSD routes in Central Florida. Utz now oversees more than 200 independent operator-run routes in Florida, from the panhandle to the southernmost part of the state. Florida is a key expansion geography for Utz, as it represents the third largest U.S. state in terms of Salty Snack Category sales, with $2.6 billion of retail sales(1). Since 2021, Utz has increased its retail sales in Florida to $103 million, representing a three-year compounded annual growth rate of 28%, and has also increased its market share from 2.7% to 3.9%(1). While the company has enjoyed very strong growth, this transaction shows that there is still significant market share opportunity in Florida which remains below the average Core geographies share at 6.9%(1). We believe that Florida’s large consumer base, combined with strong recognition of the Utz® portfolio brands, uniquely positions us to continue this growth trajectory. To support this expansion, Utz plans to increase its investment in the region and provide enhanced retailer support with increased distribution facilities and sales management, higher service velocity, and an expanded route system. “We are very excited to announce this transaction, as we continue to execute the expansion strategy that we outlined during our December 2023 Investor Day,” said Howard Friedman, Chief Executive Officer of Utz. “Strengthening our regional foothold and bolstering our customer relationships in Florida is a key focus, as the state represents an important expansion geography for Utz. We look forward to expanding our distribution and offering our portfolio of iconic snacking products to more consumers in this important geography.” (1) Source: Circana MULO-C, last-52 weeks ending 6/30/2024. About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit the Company’s website or call 1‐800‐FOR‐SNAX. Investors and others should note that Utz announces material financial information to its investors using its Investor Relations website, U.S. Securities and Exchange Commission (the “Commission”) filings, press releases, public conference calls, and webcasts. Utz uses these channels, as well as social media, to communicate with our stockholders and the public about the Company, the Company’s products, and other Company information. It is possible that the information that Utz posts on social media could be deemed to be material information. Therefore, Utz encourages investors, the media, and others interested in the Company to review the information posted on the social media channels listed on Utz’s Investor Relations website. Forward-Looking Statements Certain statements made herein are not historical facts but are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, as amended. The forward-looking statements generally are accompanied by or include, without limitation, statements such as “will”, “expect”, “intends”, “goal” or other similar words, phrases or expressions. These statements are based on the current expectations of the Company’s management and are not predictions of actual performance. These statements are subject to a number of risks and uncertainties and the Company’s business and actual results may differ materially. Investor Contact Kevin Powers Utz Brands, Inc. kpowers@utzsnacks.com Media Contact Kevin Brick Utz Brands, Inc. kbrick@utzsnacks.com
Read moreUtz Announces Board of Director Retirement of Michael Rice and Appointment of William Werzyn Jr.
HANOVER, PA., (Business Wire) August 20, 2024 – Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), Utz Brands, Inc. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. manufacturer of branded Salty Snacks and a small-cap value and growth Staples equity, announced that Michael W. Rice has retired from his position on the Utz Board of Directors (the “Board”), effective August 20. Mr. Rice will continue to participate in Board activities as an observer. The Company has also announced that William “B.J.” Werzyn Jr. has been appointed as a Director on the Board and will fill the vacancy created by Mr. Rice’s retirement. Mr. Rice served Utz in numerous roles in a career that spanned well over fifty years. Mr. Rice formally joined the family business in 1968, and became Executive Vice President in 1970, President and Chief Executive Officer in 1978, and Chairperson and CEO in 1992. In 2012, Mr. Rice turned the day-to-day senior leadership for the then family-owned company to Dylan Lissette, a fourth-generation family member through marriage. Utz became a publicly traded Company in 2020, after which Mr. Rice served as a Director and Chairperson Emeritus on the Utz Brands, Inc. Board of Directors. During his tenure, Mr. Rice is credited for diversifying the Company with pretzels, cheese curls, and other Salty Snack food subcategories, expanding Utz’s capabilities and capacity, while also leading the business’s accelerated geographic expansion beyond Utz’s Central Pennsylvania and Maryland roots. Mr. Rice was often quoted as saying, “Take care of the little things, and the big things will take care of themselves. Pay attention to the details,” a mantra that has lived on and is often repeated among Utz associates. “Mike is a true Utz icon whose contributions to the Company are too numerous to count,” said Howard Friedman, Utz CEO. “What was always clear was Mike’s treatment of the associates of this company as family. His legacy as one of the true architects of Utz’s amazing success will forever live on. We are thrilled that Mike will continue to participate with guidance and insight to the Utz Board in an observer capacity.” William Werzyn, Jr. (“B.J.”) is the Executive Chairman, Founder, and Chief Executive Officer of West Shore Home, LLC. West Shore is one of the largest direct-to-consumer home remodelers in the nation with over 41 locations in 21 states. “The Board is thrilled to have identified B.J. Werzyn, a Pennsylvania native and business leader, as the replacement for Mike’s Board seat,” said Dylan Lissette, Chairperson of the Utz Board of Directors. “B.J.’s entrepreneurial background and his technology experience combined with his business acumen, will be an invaluable addition to our Board.” Mr. Werzyn has served as CEO of West Shore Home, LLC since 2006, and has also served as the company’s Executive Chairman since October 2020. West Shore currently employs more than 3,000 people and has annual revenue of more than $750 million. In 2022, under Mr. Werzyn’s leadership, West Shore launched the nonprofit organization, West Shore for Warriors. The mission of West Shore for Warriors is to serve U.S. veterans, active military members, and their families. Mr. Werzyn resides in Mechanicsburg, Pennsylvania, and received his B.S. from Penn State University in 1999. Utz Announces Board of Director Retirement of Michael Rice and the Appointment of William Werzyn Jr. See Michael Rice (left), William “B.J.” Werzyn Jr. (right) Source: Utz Brands, Inc. About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit the Company’s website or call 1‐800‐FOR‐SNAX. Investors and others should note that Utz announces material financial information to its investors using its Investor Relations website, U.S. Securities and Exchange Commission (the “Commission”) filings, press releases, public conference calls, and webcasts. Utz uses these channels, as well as social media, to communicate with our stockholders and the public about the Company, the Company’s products, and other Company information. It is possible that the information that Utz posts on social media could be deemed to be material information. Therefore, Utz encourages investors, the media, and others interested in the Company to review the information posted on the social media channels listed on Utz’s Investor Relations website. Utz Brands, Inc. Investors Kevin Powers kpowers@utzsnacks.com Media Kevin Brick kbrick@utzsnacks.com
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Zapp’s Unleashes Two Daringly Different New Flavors
Big Cheezy Kettle Potato Chips and Sweet Cinnamon & Sugar Pretzel Stix bring more New Orleans flair to snacking HANOVER, Pa. – Zapp’s™, a daringly different brand of chips and pretzels inspired by the sights and sounds of The Big Easy, has added two bold new flavors to its bestselling Kettle Potato Chip and Sinfully-Seasoned™ Pretzel Stix lineup that are sure to delight snack lovers across the country. Big Cheezy: A cheesy twist on a classic New Orleans taste, the newest Zapp’s Kettle Potato Chips are cooked to perfection and coated with a blend of cheddar cheese, sour cream and Cajun seasoning for a flavorful, crunchy chip. Available in 2.5- and 8-ounce packaging, Big Cheezy is the first new flavor added to Zapp’s Kettle Potato Chip line in two years. Sweet Cinnamon & Sugar: The latest flavor launch of Zapp's popular Sinfully-Seasoned Pretzel Stix line, Sweet Cinnamon & Sugar features Zapp’s crunchy, savory pretzel coated with a sweet cinnamon and sugar blend. Zapp’s Pretzel Stix are twisted to deliver an explosive blend of flavors for the perfect combination of sweet and savory, available in 1.5-, 5- and 16-ounce packaging. “We put a twist on classic pretzels and chips the only way we know how – with a unique New Orleans kick that packs maximum flavor,” said Utz Brands, Inc., Senior Vice President of Marketing Stacey Schultz. “Whether it’s the savory, complex crunch that Big Cheezy brings to the table, or the salty-sweet combo that Sweet Cinnamon & Sugar adds to our Sinfully-Seasoned Pretzel Stix line, we aim to excite curiosity and deliver unique snacks that Zapp’s is known for.” The newest additions to the Zapp’s lines can be found in major mass, grocery and convenience retailers across the United States and online at utzsnacks.com for mail order. To learn more about Zapp's and its new flavors, visit Zapp’s website or connect with Zapp’s on Facebook, Instagram and TikTok. And, as always, “Laissez les bons temps rouler!” #ZAPPS #ZAPPSPRETZELS About Utz Brands, Inc. Utz Brands, Inc. (NYSE: UTZ) manufactures a diverse portfolio of savory snacks through popular brands, including Utz®, On The Border® Chips & Dips, Zapp’s®, and Boulder Canyon®, among others. After a century with a strong family heritage, Utz continues to have a passion for exciting and delighting consumers with delicious snack foods made from top-quality ingredients. Utz's products are distributed nationally through grocery, mass merchandisers, club, convenience, drug, and other channels. Based in Hanover, Pennsylvania, Utz has multiple manufacturing facilities located across the U.S. to serve our growing customer base. For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. SPM Communications Utz Brands, Inc. Agency Media Contact Ashley Lennington ashleyL@spmcommunications.com Media Kevin Brick kbrick@utzsnacks.com Investors Kevin Powers kpowers@utzsnacks.com New from Zapp’s -- Big Cheezy Kettle Potato Chips, and Sweet Cinnamon & Sugar Pretzel Stix. Source: Utz Brands, Inc.
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