Benzinga | Jan 24, 2022 01:31PM EST

Utz Brands Bolsters Direct Store Delivery Capabilities Via Clem Snacks, J&D Snacks Acquisitions

* Utz Brands Inc (NYSE:UTZ) subsidiaries have agreed to acquire the assets of two existing third-party direct store delivery distributors (DSD), Clem Snacks Inc and J&D Snacks Inc. Financial terms were not disclosed.

* Clem, founded in 1955, is a family-owned and operated distributor based in Brooklyn, New York. J&D has been serving Bronx, New York, since 1996.

* Clem has 100 DSD routes in New York City and Long Island, while J&D has 25 DSD routes.

* Utz expects the combined acquisition of these 125 DSD routes in New York City and the surrounding region to accelerate share gains in the Salty Snack category across these geographic areas.

* Utz plans to fund the deal with balance sheet cash and its revolving credit facility. It held $25.9 million in cash and equivalents as of October 3, 2021.

* Price Action: UTZ shares traded lower by 0.12% at $15.62 on the last check Monday.