Last week, the company told investors that it plans to borrow 0 million, including 0 million to buy out its private-equity investors and 5 million to acquire publicly traded salty-snacks maker Inventure Foods Inc., as well as for refinancing and other expenses, according to a report by analyst Bea Chiem at S&P Global Ratings, the credit-rating agency.
At that time, Utz CEO Dylan Lissette, whose wife is a Rice, told me that the company planned to double sales, from $800 million to $1.6 billion, with Metropoulous’ help.
Lissette and other senior Utz officials, and people at Metropolous, did not return calls asking why they are ending the relationship, or how much Metropolous made on the deal.
Utz Quality Foods LLC is accelerating its push to become one of the giants in the potato chips-pretzels-crackers business, where national rivals such as Pepsico’s Frito-Lay and Snyder’s-Lance have been buying up local plants, consolidating brands, and streamlining distribution to cut labor and boost profits.
Privately held Utz, based in Hanover, Pa., is controlled by members of the Rice family.
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