Utz Brands to Acquire ON THE BORDER

Utz Brands, Inc. announced that its subsidiaries Utz Quality Foods, LLC and Heron Holding Corporation have entered into a definitive agreement to acquire Truco Enterprises, a leading seller of tortilla chips, salsa and queso under the ON THE BORDER® brand, from Insignia Capital Group for a total purchase price of $480 million, subject to a customary post-closing purchase price adjustment. The acquisition includes all rights to the ON THE BORDER® trademarks for use in the manufacture, sale and distribution of snack food products in the U.S. and certain other international markets. For more details, see the official release.