US snack food group Snyder’s of Hanover has unveiled plans to buy local peer Utz Quality Foods.
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Financial details have not been disclosed and the deal remains subject to clearance from the US Federal Trade Commission.
Snyder’s chairman Mike Warehime said the move would “bring out the best of both companies”.
Warehime added: “This is the perfect marriage of two leading snack food companies whose relative business strengths are highly complementary in terms of product line and geographic reach.”
Pretzel maker Snyder’s has insisted it will keep all four of Utz’s plants in Hanover, Pennsylvania, open and that there are no “anticipated” job losses.
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By GlobalDataUtz chairman and CEO Mike Rice, who is set to become Synder’s director, said management will be “playing on the strengths of both companies”.
“Our two companies have a lot of similarities: we are both privately-held, family-owned and operated businesses, and we have tremendous community involvement and support local initiatives for the betterment of our community,” Rice said yesterday (22 October).
