Utz Brands, Inc. (UTZ): restructuring charge — Utz Brands divests Bluffton plant, closes Carlisle St site, builds new DC

Utz Brands, Inc.

Pre-tax charge of ~$11M in FY2023 from Bluffton plant sale, mostly non-cash; no material future cash outflows.
Carlisle Street plant (Hanover, PA) to cease Q1 2024; no job losses; volume absorbed by remaining network.
Entered co-manufacturing deal with Super-Pufft for TGIF products; future shift to owned facilities.
Signed built-to-suit lease for ~650,000 sq ft distribution center (Northeast Logistics Center) opening Q1 2025.
Listing for sale Louisiana plant (idle after Hurricane Ida) and Alabama plant (closed June 2023).

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Utz Brands, Inc. announced a restructuring with charges of approximately $11 million affecting Bluffton, Indiana manufacturing facility (Buyer has offered all Company employees at the Facility employment within Buyer’s continuing business at the Facility).

Type: restructuring
Charge: approximately $11 million
Affected area: Bluffton, Indiana manufacturing facility
Headcount: Buyer has offered all Company employees at the Facility employment within Buyer’s continuing business at the Facility

Exact text from the filing

Subject to the terms of the Purchase Agreements, Buyer has offered all Company employees at the Facility employment within Buyer’s continuing business at the Facility. The Company currently expects to incur pre-tax charges of approximately $11 million in connection with the Transactions in fiscal year 2023, substantially all of which are non-cash charges from the loss on sale of assets.

View on SEC.gov

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Utz Brands, Inc. announced a restructuring affecting Carlisle Street Plant, Hanover, Pennsylvania (No job loss will occur due to the Carlisle Plant closure.).

Type: restructuring
Affected area: Carlisle Street Plant, Hanover, Pennsylvania
Headcount: No job loss will occur due to the Carlisle Plant closure.

Exact text from the filing

Announced that the Company’s lowest-volume manufacturing plant in Hanover, Pennsylvania (the “Carlisle Street Plant”) will cease operations in the first quarter of 2024;

View on SEC.gov

3 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Utz Brands, Inc. filing history →

Source: SEC EDGAR

accession 0001739566-23-000140

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.