On the Border Brand Acquired by Utz Brands for $480M
HANOVER, PA. – Utz Brands, Inc. plans to acquire Truco Enterprises, Carrolton, Texas, for $480 million. Truco is a manufacturer of tortilla chips, salsa and queso sold under the On The Border (OTB) brand.
The On The Border brand will provide Utz Brands with scale in the $6.2 billion retail tortilla chip category, which is the No. 2 sub-category in salty snacks, according to Utz.
“This strategic acquisition will make Utz a significant competitor in the tortilla chip sub-category, where OTB holds the No. 3 position, and also provides us with a meaningful position in salsa, queso and dips,” said Dylan Lissette, chief executive officer of Utz. “In combination with our small but growing premium Tortiyahs! brand, the integration of the On The Border brand will continue to improve Utz’s scale and product diversification, which are important success factors in salty snacks.”
