Utz Quality Foods, a Hanover-based salty snacks manufacturer, and Collier Creek Holdings, a special purpose acquisition company, recently completed their business combination agreement.
The companies have combined to form Utz Brands, Inc., which began trading on the New York Stock Exchange on Monday under the ticker symbol “UTZ.”
“The completion of our business combination with Collier Creek and the initiation of Utz as a public company marks a significant milestone and will fuel our next century of growth after nearly 100 years as a family-owned business,” Dylan Lissette, Utz’s CEO, said. “We have spent the last 10 years building Utz into a national brand and platform through rapid geographic and brand portfolio expansion driven by strategic acquisitions and organic growth. Our partnership with Roger (Deromedi) and the Collier Creek team positions us to further accelerate our growth as a public company and achieve our goal of being the fastest-growing, pure-play branded snack company of scale.”
Collier Creek was co-founded by Roger Deromedi, Chinh Chu, and Jason Giordano.
Deromedi now serves as Utz Brands chairman. The majority of the board of directors’ members will be independent directors.
Lissette will continue as CEO with the existing management team.