Utz Quality Foods, LLC, a Hanover, Pa.-based salty snack manufacturer, acquired Inventure Foods, Inc., Phoenix, Ariz.

"This transaction is the result of diligent analysis and thoughtful strategic deliberations by our board of directors and the result of the strategic and financial review we initiated in July 2016," says Terry McDaniel, chief executive officer of Inventure Foods. "Our board, with the advice of independent advisors, determined that this transaction will deliver immediate and certain cash value to our stockholders and new opportunities for our snack brands."

"We are tremendously excited about the opportunity to acquire Inventure Foods," says Dylan Lissette, chief executive officer of Utz Quality Foods. "The company's specialty snack food products and brands, as well as its geographic footprint, customer relationships and distribution strengths, are highly complementary to our business, and we look forward to continuing Inventure's strong heritage of innovation in both healthy and indulgent snacking. We have also been extremely impressed with the team at Inventure, and look forward to working together going forward."