Utz Promotes Accounting Govt to CFO Function Amid Broader Reshuffling

Mr. Devore has served as the company’s CFO because 2019. He joined Utz in 2016 as a board member and senior vice president, soaring to govt vice president the adhering to calendar year.

Mr. Kataria has labored for Utz considering the fact that 2017, to begin with as senior vice president of finance and treasury. Right before Utz, he was vice president of world wide finance and approach at

Armstrong Flooring Inc.,

a publicly traded maker of flooring merchandise.

Utz on Monday also explained it named

Jim Sponaugle

main individuals officer, also helpful Oct. 4. Mr. Sponaugle is now the senior vice president of human means and staff progress.

The organization did not right away respond to a ask for for remark.

Collier Creek Holdings, a unique-objective acquisition business, in August 2020 took then-named Utz Quality Meals LLC community, ending practically a century of relatives management. The put together business is shown on the New York Stock Trade.

Utz in Could documented $269.2 million in profits for the 13-7 days period of time ended April 4, up 18% from the prior-year period. It recorded a web reduction of $23.3 million for the interval, in contrast with $1.7 million in net revenue all through the prior-calendar year period of time. The company strategies to report earnings for the most current quarter on Aug. 12.

Because likely community, Utz has acquired 4 providers as it appears to extend its geographic access in the Midwest and other areas of the U.S. In its most recent deal, Utz in June bought the belongings of tortilla chip maker Festida Foods—including authentic estate found in Grand Rapids, Mich.—from Excellent Lakes Festida Holdings Inc. for $41 million.

“We keep on to execute on our technique of producing accretive strategic acquisitions targeted on U.S.-branded snacking,” Utz’s main executive,

Dylan Lissette,

stated on a Might earnings simply call.

The company’s financial tactic, which is mostly to present funding for acquisitions, will likely remain unchanged underneath the new CFO, mentioned Mitchell Pinheiro, director of research at Sturdivant & Co., an investment financial institution.

Utz had $4 million in income and hard cash equivalents as of April 4, down 91.4% from Jan. 3, according to its most up-to-date quarterly filing.

In his new function, Mr. Kataria is established to acquire an yearly base salary of $450,000 and an yearly funds incentive award qualified at 75% of his wage, according to a submitting with U.S. securities regulators.

—Matt Grossman contributed to this short article.

Create to Mark Maurer at [email protected]