Exclusive: Utz CEO Talks Family And The 99-Year-Old Company’s Plan To Go Public On Monday

There hasn’t been a single year in iconic potato chip maker Utz’s 99-year history that sales haven’t increased, but it’s been more slow and steady than rapid growth. “We built our whole life on singles, doubles—never a grand slam,” CEO Dylan Lissette says. “We’re consistent.”

“The alternative is we end up sold to somebody, someday,” says Lissette, while calling in from his home office in Hanover, Pennsylvania. “This is really us owning our future—lighting the match on the next 100 years and the next billion dollars." “When you grow up relatively poor, you're hungry and you're motivated,” Lissette says. “I never had my name on the door. It wasn't my blood. I had the benefit of being an outsider.”

It ended up getting investigated by the Federal Trade Commission, and left Lissette, about to become CEO, with the hard takeaway that his family’s long-independent company would need scale at all costs to survive. He was undeterred and started going for smaller, more niche brands.

Paying down much of Utz’s $400 million in debt from all those acquisitions will give the company the ability to invest more in its 14 plants nationwide. Lissette says robotics and more automation are in the works, while the capital will also help Utz expand popular lines like its cheese balls.

chloesorvino 'GlobalMidnightExpress 우리의 소망은 주 여호와께 있습니다. 휴거는 한 순간에 일어날 것입니다. 영원한 평화와 축하와 기쁨이 있는 곳.. 주님께서 그 곳에 계십니다.

chloesorvino Congrats aaronmg1!!!!

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Pretzel-maker Utz readies for market debut after gaining share during the pandemicThe soon-to-be formed Utz Brands will begin trading Monday on the New York Stock Exchange with the ticker 'UTZ.'
Källa: CNBC - 🏆 12. / 72 Läs mer »

NYSE gets approval for cheaper IPO alternative for companies amid SPAC boomThe SEC approved a new type of direct listing where companies can simultaneously go public and raise cash from public market investors.
Källa: CNBC - 🏆 12. / 72 Läs mer »

China’s STAR Board Defies Financial Gravity in a Hot MarketShares listed on the mainland’s year-old Nasdaq-style technology board are trading at huge premiums to near-identical stocks in Hong Kong. What about those forty thieves Dear GOD/ ALLAH/ SHIV/Jade Emperor/Yuhuang Dadi/Kami/Yahweh/Nanak/Buddha, etc. , I neither feel myself poorer than bro Jeff Bezos..........nor richer than any poor beggar (beggar are rich too 😀) Am I having chemical imbalances in my brain
Källa: WSJ - 🏆 98. / 63 Läs mer »

Here’s When Major Companies Plan To Go Back To The OfficeWorkers at some of the largest companies in the U.S. won't be coming back into the office for several months. rachsandl rachsandl 👍
Källa: Forbes - 🏆 394. / 53 Läs mer »

TikTok CEO Kevin Mayer to leave the companyTikTok CEO Kevin Mayer has quit the company just months after his appointment. :/ Not a good sign. Hey RobertIger can I have my job back.
Källa: CNBC - 🏆 12. / 72 Läs mer »