Utz Brands Agrees To Sell Two Manufacturing Units To Our Home For $18.5 Mln

(RTTNews) - Snacks manufacturer, Utz Brands, Inc. (UTZ), Thursday announced that its certain subsidiaries have agreed to sell two manufacturing units located at Berlin, PA, and Fitchburg, MA, to Our Home for $18.5 million.

Under the agreement, both the companies will manufacture certain Utz Brands products for upto 12 months.

Utz said that it expects the transaction, to be closed on April 22, to amount to around $14 million after tax deduction, which will be partly used to repay long-term debts.

Moreover, the company anticipates that the transaction will be accretive to its adjusted earnings per share in the fiscal year 2024.

Currently, Utz Brands's stock is trading at $17.38, up 0.17 percent on the New York Stock Exchange.