Utz Acquires Boulder Canyon Parent Company
Utz Quality Foods is acquiring Inventure Foods, whose brands include Boulder Canyon , Poore Brothers, and Vidalia Brands among others, for about $165 million, including the assumption of about $75 million of debt.
The transaction is the “result of the strategic and financial review we initiated in July 2016,” said Terry McDaniel, CEO of Inventure Foods.
“We are tremendously excited about the opportunity to acquire Inventure Foods,” said Dylan Lissette, Chief Executive Officer of Utz Quality Foods. “The Company’s specialty 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.”