On The Border brand, ‘opportunities abound.'

According to Dylan B. Lissette, chief executive officer, strategic mergers and acquisitions will play a vital part in those growth potential.

According to Dylan B. Lissette, chief executive officer, strategic mergers and acquisitions will play a vital part in those growth potential.

Utz Brands, Inc., a maker of branded salty snacks, is committed to the long-term health of its brands, prioritising investments to take advantage of its enormous current and future growth prospects.

According to Dylan B. Lissette, chief executive officer, strategic mergers and acquisitions will play a vital part in those growth potential.

During a conference call with investors on August 12 to review second-quarter results, Mr. Lissette noted, "Our scalable platform has proved to create both meaningful cost and revenue benefits." “We believe our pure-play snacking emphasis positions us as the ideal consolidator in the salty snack sector, and our platform has inherent flexibility, as we can evaluate tiny tuck-ins, medium-sized acquisitions, or possibly larger transformative opportunities,” says the company.

“We continue to concentrate our M&A activities on companies that will allow us to expand geographically, expand our position in key subcategories or channels, and, of course, generate good synergies. Our acquisition pipeline is still quite strong, and we'll keep focusing on prospects that are both accretive and important to our long-term objectives.”

“We continue to concentrate our M&A activities on companies that will allow us to expand geographically, expand our position in key subcategories or channels, and, of course, generate good synergies. Our acquisition pipeline is still quite strong, and we'll keep focusing on prospects that are both accretive and important to our long-term objectives.”

“It's crucial to highlight that On The Border tortilla chips have just a 50% ACV (all commodity volume) in the United States, and we're leveraging the Utz sales team and route-to-market system to drive further growth and uncover revenue synergies,” he said. “And, in our core Utz areas, we're seeing increased distribution for On The Border across several channels like grocery, drug, convenience, and dollar, which remains a huge revenue opportunity for this brand.”

Utz is driving manufacturing efficiencies through its vertical integration initiatives, according to Mr. Lissette, and recently insourced some On The Border production into its Hanover plant, with plans to bring even more production into both Birmingham, Ala., and Hanover in the first quarter of 2022 to support this increased demand and complement its current co-manufacturing.

On The Border can also benefit from new categories. Utz will test market On The Border soft tortillas in a subset of a national retailer's outlets, according to Mr. Lissette.

“We believe the On The Border brand equity has the potential to expand into the $1.9 billion soft tortilla industry, and we are excited to see the results,” he said. “In summary, we are very thrilled about the prospects that the On The Border brand will continue to offer to our portfolio across all of our geographies,” says the company.

Utz Brands' net income for the second quarter ended July 4 was $16.18 million, or 22 cents per share on the common stock, up substantially from $6.55 million a year ago. Net sales increased by 23% to $297.92 million from $241.98 million.



 

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