Pro Forma Financials and Market Positioning
COVID Favorable Longer-Term for Utz Brands
Longer-Term
Increase in
At-Home Food
Consumption
Accelerated Utz
Sales Growth
and Share Gains
Longer-Term
■ Stay-at-home orders reintroduced at-home cooking and eating experience
■ Due to safety concerns, people will spend more time at home and avoid offices, restaurants, and
public gatherings, with a potential enduring shift to "work-from-home"
■ Recession favors at-home versus away-from-home consumption
Salty snack category growth driven by actual consumption given perishability and therefore more
resilient than broader CPG to de-stocking issues
■ Mainstream brands like Utz more attractive during a recession
■ Strengthened customer relationships from ability to supply and provide retail coverage during
COVID
■ Trial generated during COVID creating satisfied new Utz consumers given excellent product
quality, with household penetration already increasing ~12% or ~2.7 million HH(1)
■ Reduced competition from smaller salty snack competitors that are less well-capitalized and
more reliant on co-manufacturers and third-party distribution
4-Week Period Ended 3/22/20
2020 YoY Retail Sales Growth
4-Week Period Ended 4/19/20
4-Week Period Ended 5/17/20
31%
33%
29%
27%
22% 21%
21%
21%
16%
Total
HPC(2) Total
Pack.
F&B
Total SS
PEPSICO
Campbells
Kellogg's
Source: IRI MULO-C data.
utz
BRANDS
SM
putz
BRANDS
ม
9%
20%
11%
9%
10%
Private
Label
(5%)
1). Based on IRI panel survey for the 12-week period ended May 17, 2020. 2). Excludes household cleaning products.
Total
HPC(2) Total
Pack.
F&B
Total SS
PEPSICO
Campbilla
(0%)
Kellogg's
Autz.
4%
24%
17%
15%
12% 12%
(19%)
Private
Label
Total
HPC(2)
2%
Total
6%
Pack.
F&B
Total SS
PEPSICO
Campbells
Kellogg's
Butz
BRANDS
(10%)
7%
Private
Label
29
29View entire presentation