Utz Brands to Acquire Major Tortilla Brand

Utz Brands subsidiaries Utz Quality Foods and Heron Holding Corporation have agreed to pay Insignia Capital Group $480 million to acquire Truco Enterprises, a leading seller of tortilla chips, salsa, and queso under the ON THE BORDER brand. 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. Expected to close in December, the transaction is subject to customary closing conditions, including the receipt of regulatory approvals.