Listen to this article now |
The pandemic has definitely put a hold on many people’s diets and fitness goals. In fact, snack sales have increased by 25% in the past year. This is a direct result of 90% of adults admitting to snacking more than usual. The entire snack industry has been booming accordingly; however, a company overwhelmingly at the top is Utz.
The company is family owned and has been growing steadily since 1921. However, back in August, Utz CEO Dylan Lissette noticed a spike in snacking and wanted his company to benefit from it. Lissette told CNBC that Utz no longer wanted to “just be a company that dotted along”. Utz wants to compete nationally against the rest of the snack industry. The pandemic has been helpful in making that a reality for the company. Sales are higher than ever and they’re dominating, if not acquiring, their biggest competition.
Utz’s rise has been inevitable since before the pandemic. Since Lissette took over as CEO in 2012, Utz has been projected to be a name not to mess with. The company has taken over many smaller companies in the past decade, including Good Health Natural Products and Golden Flake. After acquiring these companies, Utz became the largest privately owned snack food company according to Thrillist. Last year, they acquired parts of a huge competitor, Snyder. This year, they acquired On the Border, a major tortilla chip and salsa producer.
PepsiCo, Campbell, and Kellogg remain the top three snack producers; nevertheless, Utz has climbed up the ladder to become fourth in the snack industry. Who is to say that they will not gobble up the remaining competition? Only time and cravings will tell.
What is your favorite treat to snack on? Let us know down in the comments.
This article originally published on GREY Journal.
