Pro Forma Financials and Market Positioning
Utz is a Perfect Business Combination for Collier Creek
Collier Creek
Outz
BRANDS
SM
Completed $440 million IPO in October 2018 to
establish a new CPG "platform" company
■ Over 125 years of CPG and investing experience,
including:
― Several former executives of Pinnacle Foods led
by Roger Deromedi
- Proven operating playbook and track record of
shareholder value creation in food industry
Objective at IPO to find Pinnacle 2.0: an attractive
platform asset well suited for its value creation
strategies:
- Accelerate topline growth
- Improve margins
- Make strategic acquisitions
■$35 million co-investment by Sponsors alongside
public investors (in addition to receiving promote
shares)
■Leading manufacturer, marketer, and distributor of
branded snacks in the U.S., including potato chips,
pretzels, cheese snacks, pork skins, pub/party mixes,
and veggie snacks
■ Strong portfolio of national and regional brands,
including Utz, Good Health, Boulder Canyon, Zapp's,
and Golden Flake
■ 99-year-old family company with deep heritage and
authenticity
■ Over 43 years of consecutive Adjusted Net Sales
growth(1)
■ #2 salty snack company in its core geographies;
#4 nationally
■ 2020E Net Sales of $910 million and Pro Forma Adj.
EBITDA of $124 million
1). Source: Management estimates and internal data. Represents Adjusted Net Sales growth (before changes to independent DSD operator discounts) for 2017-2019 and Net Sales prior to 2017. Please see page
40 for reconciliation of Adjusted Net Sales.
butz
BRANDS
SM
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