USA – U.S. manufacturer of branded salty snacks Utz Brands, Inc., has completed the acquisition of the assets of two existing third party direct store delivery (“DSD”) distributors, Clem Snacks, Inc and J&D Snacks, Inc.
Founded in 1955, Clem is a family-owned and operated distributor based in Brooklyn, New York with approximately one hundred DSD routes in New York City and Long Island.
J&D has been serving the Bronx, New York since 1997 with approximately twenty-five DSD routes.
UTZ brands used balance sheet cash and its revolving credit facility to fund the acquisition and the impact to the Company’s net leverage ratio is not meaningful.
Utz believes that the combined acquisition of more than 125 DSD routes in New York City and the surrounding region will enable the Company to accelerate share gains in the Salty Snack category across these geographic areas.
Collaboration with New York retailers has enabled UTZ to expand its presence and increase distribution.
This has resulted in accelerated sales growth of Utz’s Power Brands which include Utz®, Zapp’s®, ON THE BORDER® Chips & Dips, and others.
With these acquisitions, Utz will increase its investment in the New York City region and provide enhanced retailer support.
Satyaki Lodh appointed Chief Information Officer
Meanwhile, Satyaki Lodh has been appointed Senior Vice President, Chief Information Officer.
Mr. Lodh will lead the Information Technology organization that is enabling technology infrastructure, data, and insights to support the growing national footprint of Utz’s brands.
He brings over thirty years of experience in Information Technology and will report to Ajay Kataria, Utz’s Executive Vice President and Chief Financial Officer.
Mr. Lodh is not new to the food industry having spent over twenty years in the Food & Beverage Industry, including more than a decade focused on the Snack Foods Category.
Most recently, Mr. Lodh served as the Chief Information Officer at Borden Dairy, a heritage dairy brand.
Prior to Borden Dairy, Mr. Lodh was Vice President of Enterprise Applications at Snyder’s-Lance, where he managed the application infrastructure that supported their Direct-Store-Delivery (“DSD”) route operations.
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