Utz to Sell Plants in $182M Deal
Originally Published 1 year ago — by LNP | LancasterOnline
Utz Brands Inc. is selling its Manheim Township manufacturing plant and two other facilities to Our Home for $182.5 million, with the deal expected to close on Monday. Our Home will continue manufacturing Good Health and R.W. Garcia products at the Lititz plant and other facilities, while also entering into co-manufacturing agreements with Utz. The transaction will retain jobs and benefits for Utz employees, with Our Home honoring pay rates, job tenure, and offering similar benefits. The deal is expected to provide approximately $150 million in after-tax net proceeds for Utz, which will be used to pay down its long-term debt.