Neither of the firms disclosed the details of the investment.
Utz was launched nearly a century ago by Bill and Salie Utz, and it started making fresh potato chips for local markets with a focus on premium quality products, president and CEO of Utz, Dylan Lissette, said in a statement.
“We have thrived, by continuously reinvesting in our company, expanding our offerings and reach through key acquisitions,” Lissette said.
Anticipating $800m sales in 2017
Utz recently acquired Birmingham, Alabama snack producer, Golden Enterprises, who distributes its products throughout the southern region of the US under its Golden Flake brand distributed. The acquisition is expected to generate approximately $800m in combined sales in 2017, according to a release.
Commenting on the investment, Lissette added that Metropoulos’ expertise in operations, brand expansion, innovation, growth and acquisition integration, combined with shared family values made this opportunity very “unique.”
“We look forward to working closely with Utz’s management team to develop create product innovation, capture new consumers and generations of snackers with strategically guerrilla marketing and branding, and to broaden Utz distribution nationally,” principal at Metropoulos, Daren Metropouplos, said.