Our Home, the owner of Popchips and a handful of other snack brands, has a definitive agreement to acquire the R.W. Garcia and Good Health brands and two manufacturing plants from Utz Brands Inc. Price is $182.5 million in cash, and the deal is expected to close Feb. 5.
In addition to the plants in Lincolnton, N.C., and Lititz, Pa., the transaction includes the assumption of Utz’s Las Vegas facility’s lease and manufacturing operation, giving Our Home five manufacturing facilities across the country from coast to coast. “This will empower Our Home to vertically integrate across all salty sub-categories, driving streamlined and substantial growth,” the company said.
The deal also includes reciprocal co-manufacturing agreements under which Our Home will make some Utz products and Utz will co-manufacture certain Good Health products and distribute them on the Utz DSD network.
“These acquisitions will diversify Our Home brands across a variety of salty snack categories, reinforcing our position as a leading independent better-for-you snacking platform,” says Aaron Greenwald, founder and CEO of Our Home.
Our Home, headquartered in Boonton, N.J., began in 2018 by launching Real Food From The Ground Up. In 2022, the company introduced You Need This as well as acquiring Velocity Snack Brands Opco LLC, the owner of Popchips. It bought Food Should Taste Good from General Mills early 2023.
R.W. Garcia brings tortilla chips, corn chips and gluten-free crackers with over 30 years of history to the Our Home portfolio. They’re dedicated to non-GMO and sustainability commitments. Good Health’s product portfolio spans multiple flavors and formats, including pretzels, veggie chips, popcorn, puffs, fries and more.
In addition to Popchips, Our Home brands include Food Should Taste Good, Real Food From The Ground Up and You Need This.
Utz, which has been following a “deleveraging” plan, called it an “acceleration of supply chain transformation and brand portfolio strategy.”