---
schema_version: "secwatch.filing_event.v1"
accession: "0001739566-24-000010"
form_type: "8-K"
ticker: "UTZ"
cik: "0001739566"
company_name: "Utz Brands, Inc."
filed_at: "2024-01-31T23:59:59+00:00"
generated_at: "2026-06-06T13:49:30.726611+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Utz sells Good Health, R.W. Garcia brands & 3 plants for $182.5M; narrows FY2023 Adj. EBITDA growth to 9.5-10%

## Summary
- Total cash consideration $182.5M; after-tax net proceeds ~$150M to reduce long-term debt.
- Deleveraging target of ~3.0x Net Leverage accelerated by one year, to end of FY2025.
- Interest expense reduction of ~$12M in FY2024 from debt paydown; transaction accretive to Adjusted EPS.
- Preliminary FY2023 net sales growth 2.0-2.2%; Q4 net sales $350-354M, down 1.3% to 0.2% YoY.
- Adj. EBITDA growth outlook narrowed to 9.5-10.0% from prior 8-11%; expects close Feb 5, 2024.

## SEC filing metadata
- accession: 0001739566-24-000010
- form_type: 8-K
- ticker: UTZ
- cik: 0001739566
- company_name: Utz Brands, Inc.
- filed_at: 2024-01-31T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1739566/000173956624000010/0001739566-24-000010-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1739566/000173956624000010/utz-20240131.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001739566-24-000010
- JSON: https://secwatch.observer/filing/0001739566-24-000010.json
- Plain text: https://secwatch.observer/filing/0001739566-24-000010.txt

## Key facts
- Earnings Releases
  Utz Brands, Inc. reported fiscal year ended December 31, 2023 results: revenue total net sales growth in a range of 2.0% to 2.2%. Guidance lowered.
  - Period: fiscal year ended December 31, 2023
  - Revenue: total net sales growth in a range of 2.0% to 2.2%
  - Guidance: lowered
  - Result: preliminary results
  source text: be more consistent with retail sales growth. For the fiscal-year 2023, based on preliminary financial information, the Company estimates 2023 total net sales growth in a range of 2.0% to 2.2%, and is narrowing its fiscal-year 2023 Adjusted EBITDA outlook range to growth of 9.5% to 10.0% versus the prior expectation of growth of 8% to 11%. These preliminary
  evidence_url: https://www.sec.gov/Archives/edgar/data/1739566/000173956624000010/0001739566-24-000010-index.htm
- Material Agreements
  Utz Brands, Inc. entered into Purchase Agreement with Healthy Snacks Holdco LLC, North Carolina Tortilla Manufacturing LLC, Pennsylvania Tortilla Manufacturing LLC, and Best Snacks, LLC valued at $182.5 million (effective 2024-01-31).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Healthy Snacks Holdco LLC, North Carolina Tortilla Manufacturing LLC, Pennsylvania Tortilla Manufacturing LLC, and Best Snacks, LLC
  - Value: $182.5 million
  - Effective: 2024-01-31
  source text: On January 31, 2024, Utz Brands, Inc., a Delaware corporation (the “Company”), through its indirect subsidiaries Utz Quality Foods, LLC, a Delaware limited liability company (“UQF”), R.W. Garcia Holdings, LLC, a Delaware limited liability company (“R.W. Garcia Holdings”), GH Pop Holdings LLC, a Pennsylvania limited liability company (“GH Pop Holdings”) and Condor Snack Foods, LLC, a Delaware limited liability company (“Condor Snack Foods” and together with UQF, GH Pop Holdings and R.W. Garcia Holdings, each a “Seller” and collectively the “Sellers”), entered into a Purchase Agreement (the “Purchase Agreement”) with Healthy Snacks Holdco LLC, a Delaware limited liability company (the “Equity Buyer”), North Carolina Tortilla Manufacturing LLC , a Delaware limited liability company (the “NC Real Estate Buyer”), Pennsylvania Tortilla Manufacturing LLC, a Delaware limited liability company (the “PA Real Estate Buyer,” together with the NC Real Estate Buyer and the Equity Buyer, each a “Buye
  evidence_url: https://www.sec.gov/Archives/edgar/data/1739566/000173956624000010/0001739566-24-000010-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.