Ala., Pa. snack food companies announce merger
BIRMINGHAM, Ala. (AP) – The parent company of Golden Flake Snack Foods Inc., a longtime Birmingham, Ala., firm known for its potato chips and other snack foods, is being acquired by Utz Quality Foods Inc. of Hanover.
Golden Enterprises and Utz Quality Foods this week announced they’ve entered into a merger agreement.
Golden Enterprises CEO Mark McCutcheon said in a statement the merger will allow the Golden Flake brand to continue its growth in the southeastern U.S. while expanding product selections for consumers.
Utz Quality Foods Inc. is a privately held snack food company, founded in 1921 by William and Salie Utz, who began making potato chips out of their home in Hanover.
Their story is similar to how Frank Mosher, Mose Lischkoff and Helen Freidman began Golden Flake in 1923.
Under the deal’s terms, Utz would acquire Golden Enterprises with Golden’s stockholders receiving $12 per share in cash.