Utz Brands To Buy ON THE BORDER Tortilla Chips Seller Truco Enterprises For $480 Mln

(RTTNews) - Utz Brands, Inc. (UTZ) said that its subsidiaries Utz Quality Foods, LLC and Heron Holding agreed to acquire Truco Enterprises, a seller of tortilla chips, salsa and queso under the ON THE BORDER brand, from Insignia Capital Group for a total purchase price of $480 million.

The acquisition includes all rights to the ON THE BORDER trademarks for use in the manufacture, sale, and distribution of snack food products in the United States and certain other international markets.

Utz expects the transaction to be accretive to earnings in 2021 and beyond. It expects to close the deal in December 2020.