utz quality foods stock

Katie TurnerICR 646-277-1228 Katie.Turner@icrinc.com, Collier Creek: Jonathan Keehner / Tim Ragones / Kate ThompsonJoele Frank, Wilkinson Brimmer Katcher 212-355-4449, Utz: Cory ZiskindICR 646-277-1232 Cory.Ziskind@icrinc.com, View original content:http://www.prnewswire.com/news-releases/utz-quality-foods-to-combine-with-collier-creek-holdings-to-form-utz-brands-inc-301071157.html, Registration on or use of this site constitutes acceptance of our, Morgan Stanley details 3 trades set to outperform as investors grow more comfortable with a Democratic sweep », Facebook admits it 'improperly' blocked some political ads due to 'technical issues' as Joe Biden's campaign slams it for being 'wholly unprepared' ». Utz Brands will remain headquartered in Hanover, Pennsylvania. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below.

Utz Brands' board of directors will be composed of a majority of independent directors under the applicable listing rules of the New York Stock Exchange. The transaction has been unanimously approved by the board of directors of Collier Creek and was approved at a special meeting of Collier Creek shareholders on August 27, 2020.

A more detailed description of the transaction terms will be included in a current report on Form 8-K to be filed by Collier Creek with the U.S. Securities and Exchange Commission ("SEC"). For more information, please visit www.utzsnacks.com or call 1‐800‐FOR‐SNAX. Per the terms of the business combination agreement, Collier Creek and Utz have combined to form Utz Brands, Inc. ("Utz Brands"), a leading pure-play snack food platform in the U.S. ", Mr. Lissette continued: "Leveraging our proven track record of profitable growth and the Collier Creek team’s expertise in driving value creation in food platform companies, we have multiple ways to win in the growing salty snack category.

Utz Quality Foods, LLC 17.68 0.30 (1.67%) Utz Quality … We are confident that by supporting Dylan and the talented management team with our proven operating playbook, Utz can become the fastest-growing pure-play branded snack platform of scale in the U.S. We look forward to working with the Utz team in the years ahead.

Mr. Chu and Mr. Giordano are Senior Managing Directors of CC Capital, a private investment firm. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements.

Trending now. "The completion of our business combination with Collier Creek and the initiation of Utz as a public company, marks a significant milestone and will fuel our next century of growth after nearly 100 years as a family-owned business," said Mr. Lissette.

Collier Creek was co-founded by Chinh Chu, Roger Deromedi, and Jason Giordano, who bring more than 80 years of combined investing and operating experience, with a focus on the consumer goods sector. For more information, please visit www.colliercreekholdings.com. Utz Quality Foods LLC Utz Quality Foods, LLC manufactures and supplies snack foods. The Rice and Lissette family, the founding family and owners of Utz, retained more than 90% of its existing equity stake, which represents more than 50% ownership in Utz Brands following completion of the transaction. "Utz is an iconic company with a strong portfolio of beloved snack brands, growing positions in the salty snack category, and a competitively advantaged manufacturing and distribution network. Some of these risks and uncertainties may in the future be amplified by the COVID-19 outbreak and there may be additional risks that Utz Brands considers immaterial or which are unknown. Most of these factors are outside Collier Creek’s and Utz’s control and are difficult to predict. A banner for Utz Brands, which is listed at the New York Stock Exchange, hangs on the exterior of the building, Monday, Aug. 31, 2020, in New York. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements.

… Our partnership with Roger and the Collier Creek team positions us to further accelerate our growth as a public company and achieve our goal of being the fastest-growing, pure-play branded snack company of scale. Utz Quality Foods, LLC ("Utz" or the "Company"), a leading U.S. manufacturer of branded salty snacks, and Collier Creek Holdings ("Collier Creek") (NYSE: CCH, CCH.U, CCH WS), a special purpose acquisition company, today announced that they have completed their business combination. This press release also includes certain projections of non-GAAP financial measures. This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Utz Brands will also enter into a customary tax receivable arrangement with continuing Utz owners, which will provide for the sharing of tax benefits relating to certain pre-combination tax attributes, as well as tax attributes generated by the transaction and any subsequent sales or exchanges by the continuing Utz owners of their equity interests, as those attributes are realized by Utz Brands. ", Mr. Chu and Mr. Giordano added: "We are excited to complete this transaction, which delivers attractive value to our shareholders, and look forward to partnering with management to drive future growth and value creation at Utz.". Utz Brands cautions that the foregoing list of factors is not exclusive. Due to increased volume, shipments may be delayed. So, they started Utz back in 1921. The Company's iconic portfolio of authentic, craft, and better-for-you brands includes Utz, Zapp's, Golden Flake, Good Health, and Boulder Canyon, among others. Transaction Introduces Utz as a Publicly Listed Company on the New York Stock Exchange After Nearly 100 Years as a Family-Owned Business.

Utz Quality Foods gained market share as consumers stockpiled its pretzels and potato chips for quarantine snacks at the start of coronavirus lockdowns, helped by its direct-store delivery model. Goldman Sachs and Sageworth are acting as financial advisors to Utz. "This transaction enables Utz to continue its long-term growth plans and provides greater access to capital to fund organic and inorganic growth.

", "Our partnership with Utz brings together the financial and human capital of Collier Creek with an exceptional 100-year-old company that has significant competitive advantages and runway for profitable growth," said Mr. Deromedi. In connection with the transaction, Collier Creek's sponsor and directors will invest approximately $35 million alongside public investors via a private placement pursuant to the forward purchase agreements entered into concurrent with Collier Creek's initial public offering.

S&P 500 0.18%.

This press release uses certain non-GAAP financial measures such as Adjusted Net Sales and Pro Forma Adjusted EBITDA.

Collier Creek’s and Utz’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward looking statements as predictions of future events. Proceeds from the transaction are expected to be used primarily to repay existing borrowings at Utz.

Collier Creek intends to file a registration statement with the SEC which will include a preliminary proxy statement and preliminary prospectus of Collier Creek in connection with the proposed business combination and, after the registration statement is declared effective, will mail a proxy statement/prospectus and other relevant documents to its shareholders. ", Mr. Lissette continued: "We look forward to partnering with Roger and the seasoned team at Collier Creek as we leverage their experience in driving value creation in food platform companies.

", "Our partnership with Utz is consistent with our philosophy of investing in high-quality, durable businesses with compelling growth opportunities," said Mr. Chu. "As we approach our 100-year anniversary, we are excited to take this important step forward to position Utz for its next century of growth," said Mr. Lissette. Utz Brands’ board of directors will be composed of a majority of independent directors under the applicable listing rules of the New York Stock Exchange. The Rice and Lissette family, the founding family and owners of Utz, will retain more than 90% of its existing equity stake, which will represent more than 50% ownership in Utz Brands upon completion of the transaction. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. "This transaction delivers significant near-term value to our existing shareholders, and we are fully aligned with the Rice and Lissette family to drive long-term value creation in the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.

Collier Creek was co-founded by Roger K. Deromedi, Chinh E. Chu, and Jason K Giordano, who bring over 80 years of combined investing and operating experience, with a focus on the consumer goods sector. All rights reserved.

Upon the closing of the transaction, Collier Creek will become a Delaware corporation and the name of Collier Creek will be changed to Utz Brands, Inc.

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