Private Equity Firm Makes $146M Investment in Pennsylvania's Utz Snack Foods | NBC 10 Philadelphia

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Private Equity Firm Makes $146M Investment in Pennsylvania's Utz Snack Foods

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    A private equity firm has invested more than $146 million in Pennsylvania snack food company Utz.

    The Wall Street Journal reports 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, Pennsylvania, 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, tells the newspaper that the combination of growth potential and heritage made Utz appealing to his firm, which focuses on expanding and reviving well-known brands. Wildest Food Crazes: Just Like BaconWildest Food Crazes: Just Like Bacon

    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.