CHICAGO —Utz Quality Snacks, L.L.C. has completed its acquisition of Conagra Brands, Inc.’s, direct-store delivery (D.S.D.) snacks business. The transaction includes the Tim’s Cascade Snacks, Hawaiian Snacks, Erin’s, El Restaurante, Snyder’s of Berlin, Pop-N-Thin and Husman’s brands. Financial terms of the transaction were not disclosed.
Conagra Brands acquired the business last year when it purchased Pinnacle Foods for $10.9 billion. The snacks food brands were part of the Pinnacle Specialty Foods segment, which had annual sales of $325 million in 2017, and included other products that were not a part of the Utz acquisition.
Snacking will remain a central part of Conagra’s growth strategy, according to the company. While it currently has a $2.5 billion snacking portfolio, chief executive officer Sean M. Connolly said the brands have more opportunity for growth under Utz, an established D.S.D. operator.