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Utz, Snyder Cancels Merger

November 04, 2009

Utz Quality Foods and Synders of Hanover have cancelled plans for a merger after Utz said the other day the Federal Trade Commission’s approval process was too expensive.

“Although we recently announced our intended merger with Utz Quality Foods, it was contingent upon Federal Trade Commission (FTC) clearance,” noted Carl Lee, Jr., president and CEO of Snyder's of Hanover. “While the decision was unexpected, it's best that Snyder's move on to other opportunities that are available to our company.”

Utz withdrew from the process or merging because the requirements and payment of legal fees would “put a strain” on the company.

“Both companies have been rigorous in their efforts,” Snyder’s chairman Mike Warehime said in a statement, “and will continue to work together in community and industry activities.”

The first and second filings were not cleared by FTC. Both companies will continue to work hand in hand in community and industry activities. Snyder’s will continue on developing and supporting Utz’ national direct store delivery footprint through their brand building programs, national advertising, outstanding quality and superior store level service.

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