Citing “continued retail success,” Utz Brands today announced it will make an approximately $6 million-dollar profit sharing contribution for Utz associates.
“Started over forty years ago, the Utz 401K Profit Sharing Plan is committed to supporting Utz Associates and their families based on the company meeting a range of corporate and operational goals. Since 2000, the 401K profit sharing contributions for Associates has exceeded $75 million dollars,” Utz said.
The company said its successes including going public in August and “the acquisition of consumer brand favorites ON THE BORDER chips and dips and Vitner’s.”
Full- and part-time employees are eligible for the Utz 401(k) profit sharing plan based on their tenure, the company said.
“Although the COVID-19 pandemic created tremendous hardships in 2020, due to the extraordinary efforts of our Utz Associates, we were able to exceed our expectations, while fulfilling our duty as an essential business.
In addition, this resilient team integrated several snack food acquisitions and helped to launch our company on the public stage, now trading on the New York Stock Exchange under the ticker symbol UTZ,” said Jim Sponaugle, senior vice president, human resources, Utz Brands, Inc.
“In that spirit of can-do and as we begin to celebrate our 100-year anniversary, we’re extremely proud to continue the tradition of sharing the company’s success with Associates.”