Private equity firm invests more than $146M in Utz snacks

Written by The Associated Press | Oct 20, 2016 9:29 AM

Photo by The Evening Sun file

(Hanover) -- A private equity firm has invested more than $146 million in midstate snack food company Utz. 

Metropoulos and Company announced their investment Wednesday.

The Rice family, which owns and operates 95-year-old Utz, will remain majority shareholders.

Utz, based in Hanover, York County, has made a number of acquisitions in the past five years, including Good Health pretzels and veggie straws and Zapp's potato chips. 

Daren Metropoulos, a principal of Metropoulos, says the combination of growth potential and heritage made Utz appealing to his firm, which focuses on expanding and reviving well-known brands.

Metropoulos brought Hostess Brands out of liquidation three years ago. 

Utz says it will use the new investment to fund its recent acquisition of Alabama-based snack maker Golden Enterprises.

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