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Utz Is in Merger Talks With Blank-Check Firm Collier

  • A sale to blank-check firm could be announced this month
  • Consumer-focused Collier was founded by Blackstone executives
Updated on

Potato chip-maker Utz Quality Foods is in talks to be acquired by Collier Creek Holdings, a blank-check company started by former Blackstone Group Inc. executives, according to people familiar with the matter.

A deal valuing the maker of cheese balls and potato stix at more than $1 billion, including debt, could be reached as soon as this month, said the people, who asked to not be identified because the matter isn’t public. The companies have been in talks since before the start of the coronavirus pandemic, they said. No final decision has been made and negotiations could fall through, they said.