Utz plans to use its robust sales, manufacturing, and distribution platform to expand ON THE BORDER® tortilla chips, salsa, and queso further into channels where OTB is under-penetrated, including Grocery and Convenience, and to increase marketing and innovation investments behind the brand. The ON THE BORDER® brand provides Utz a growing Power Brand with significant scale in the attractive $6.2 billion retail sales tortilla chip sub-category, the #2 sub-category in salty snacks behind potato chips, as well as a meaningful presence in salsa, queso, and dips, and a strong innovation pipeline. Perfect Day & Graeter’s Partner for New ‘Indulgent’ Offering, Gallery: Brands Launch Fall Seasonal Offerings, HumanCo and CAVU Partner on Health and Wellness SPAC, The Checkout: FreshDirect Acquired; Farmstead Raises $7.9M, B2B Sales Representative - Too Good To Go, Sales Manager - Florida - Sunshine Beverages, LLC, Nutrient-Rich All-Purpose Flour Flourish Fiber from the Farm Launches, Yo Pitts! BevNET's Taste Radio, the leading podcast for the food and beverage industries. 7, … Meet the founders behind the hottest new brands. Find qualified candidates today. Following the transaction, Utz would have approximately $1.3 billion in total retail sales. The transaction is expected to be accretive to earnings in 2021 and beyond. ®, with the ON THE BORDER® brand of tortilla chips, salsa, queso, and dips, will uniquely position Utz as a leading player in the $28 billion U.S. Salty Snack category. CARROLLTON, Texas -- Snack maker Truco Enterprises has appointed Lisa Walsh (pictured below) as the company's CEO. Shane Chambers, CEO of Truco Enterprises: The combination of Utz’s existing portfolio of Power Brands, including Utz®, Zapp’s®, Golden Flake® Pork Skins, Good Health®, Boulder Canyon®, Hawaiian® Brand, and Tortiyahs! Assuming Utz fully draws this commitment, net leverage immediately following the transaction would be approximately 4.8x on 2020E Combined Utz and Truco Adjusted EBITDA including expected cost synergies, and we would expect to return to our stated target net leverage range of 3-4x within 12-18 months after closing, consistent with the financial policy outlined in our SPAC business combination investor presentation. The On The Border® line of retail products includes crispy, authentic Mexican-style chips, flavorful salsas and creamy queso dips. Further, due to Truco Enterprises’ asset-light nature through the use of co-manufacturers, Truco Enterprises’ free cash flow contribution to Utz is meaningful, as capital expenditures are nominal and working capital averages approximately 6% of net sales. Utz expects Truco Enterprises to generate approximately $195 million in Net Sales in fiscal 2020, an increase of approximately 32% compared to the prior year, and approximately $50 million of Truco Adjusted EBITDA in fiscal 2020, excluding expected run-rate cost synergies. 18 Truco Enterprises reviews. Under the terms of the transaction agreement, Truco will become a wholly owned indirect subsidiary of Utz. Utz Brands to acquire Truco Enterprises, the owner of 'On the Border' Tortilla Chips. NOSH Headlines Top Feature People Moves: Truco Enterprises Names CEO; Sabra Adds CMO People Moves: Truco Enterprises Names CEO; Sabra Adds CMO Erin Cabrey May. Best Cities for Jobs 2020 NEW! Introduces Oat + Almond + Coconut Yogurt, Mission-Focused Investors Back New Wellness Brand Sugarbreak, Pork Panko Makes Its Debut at Costco Stores Throughout Southern California, Barry Callebaut Reimagines Domestic Chocolate Brand Van Leer, Klersun Increases Production Capacity With Facility Expansion, ESI Nutrition Evolving to Become Laïta Nutrition, Red River Commodities Announces Suntein Sunflower Protein, Unioncrate Hires CPG Veteran Kunal Kohli as Director of Business Development, 12/01 - Sponsored: Building the Brand Round Table Event, 12/01 - Category Close-Up: Nutrition Bars - Expert Analysis, 12/02 - Category Close-Up: Nutrition Bars - Product Showcase, 12/03 - NOSH Presents Market Share: Jodi Benson of General Mills, NOSH: FREE ACCESS TO SUBSCRIBER-ONLY CONTENT. CARROLLTON, Texas, Jan. 10, 2018 /PRNewswire/ -- Truco Enterprises announced today that it appointed Lisa Walsh as the company's Chief Executive Officer effective January 3, 2018. The acquisition increases Utz’s presence with leading customers in the Mass and Club channels, and expands Utz’s geographic presence, providing approximately $190 million of retail sales in Utz’s Expansion and Emerging geographies. Further, ON THE BORDER® is a significant player in the growing $1.5 billion retail sales salsa sub-category, and is the #3 brand in the $107 million retail sales queso sub-category. The Company has debt financing commitments for the full transaction amount from BofA Securities and Goldman Sachs. All content is posted anonymously by employees working at Truco Enterprises. Truco Enterprises, LP has 50 total employees across all of its locations and generates $136.00 million in sales (USD). Glassdoor gives you an inside look at what it's like to work at Truco Enterprises, including salaries, reviews, office photos, and more. Jobs. Jobs; ... who work well together to get things done right with accountability for doing your part being shared equally from the CEO to the part time staff. Food and beverage industry job board powered by NOSH / BevNET. Our annual buyers guide to natural snack food products, Classified ads from service providers and suppliers, On-demand video education on running a food business, Thank you to our 1200+ charter subscribers, Learn how to grow your business with NOSH, Submit your brand/product to our database, People Moves: Truco Enterprises Names CEO; Sabra Adds CMO, Gold Rush Accelerator Seeks to Promote Community, Success for Asian Entrepreneurs, Watch: Product Showcase: Ice Cream, Bonus Interviews, Mother Raw Raises $6.1M to Support Growth in U.S. Market, Building the Brand S1E3: Building an In-Be”Tween” Brand. Virtual / Dec. 14-16, 2020Register Now >>. Foods Introduces New Gluten-Free and GMO-Free flavor, DAH! “ ON THE BORDER ® is now one of the fastest growing tortilla chip brands, and the fastest growing dip brand in the category.”. There are 3 companies in the Truco Enterprises, LP corporate family. As Truco's new CEO, Walsh's top priority will be expanding distribution of the On the Border brand of snacks and in turn … Shane Chambers, CEO of Truco Enterprises: “The Truco team is thrilled to be joining the Utz family of brands, and we are thankful to our partners at Insignia Capital for all of their support.”. Tortilla chip retail sales grew 10% in the 52 weeks ending 10/4/20. Our database of leading suppliers and service providers for the food and beverage industries. Truco Enterprises’ business has benefited from the COVID-19 pandemic, which has helped drive strong performance in the company’s Mass, Club, and Grocery channels. Utz Brands, Inc. 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