Utz Brands Business Summary

Utz Brands, Inc. (UTZ) is a leading manufacturer and distributor of branded salty snacks, generating revenue primarily through the sale of a diverse product portfolio that includes potato chips, pretzels, tortilla chips, and cheese snacks. The company’s operations are concentrated in two primary segments: Branded Salty Snacks, which accounts for approximately 88% of net sales, and Non-Branded & Non-Salty Snacks, comprising the remaining 12%. Its "Power Four Brands"—Utz®, On The Border®, Zapp’s®, and Boulder Canyon®—drive the majority of organic growth and household penetration, supported by a robust direct-store delivery (DSD) network of approximately 2,500 routes and a consolidated manufacturing footprint. Utz competes directly with industry giants such as Frito-Lay (PepsiCo), Campbell Soup Company (Snyder's-Lance), and Kellanova. As a pure-play salty snack competitor, Utz differentiates itself through its regional heritage and strategic expansion into high-growth "Expansion Geographies" while maintaining a dominant market share in its core Mid-Atlantic markets. Founded in 1921 by William and Salie Utz, the company is currently led by CEO Howard Friedman, who joined in 2022 following executive leadership roles at Post Holdings and Kraft Heinz. The executive team includes EVP and CFO William J. (BK) Kelley Jr., a food industry veteran with a pedigree from Tropicana and TreeHouse Foods, and SVP and Chief Information Officer Satyaki Lodh, who manages the firm's digital infrastructure and ERP modernization. Dylan Lissette, representing the fourth generation of family leadership and the former CEO, serves as Chairperson of the Board. Notable board members and strategic investors include Lead Independent Director Roger Deromedi, former CEO of Kraft Foods, and Jason Giordano of CC Capital; both co-founded Collier Creek Holdings, the special purpose acquisition company that facilitated Utz’s public listing in 2020.