Company: UTZ
Filing Date: 2025-02-20
Form Type: 10-K
Source: 0001739566-25-000053
Chunk: 124

Company: Utz Brands, Inc.
Filing Date: 2025-02-20
Form: 10-K
Item: Item 8
Chunk 124
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 Our Home for certain terms under these agreements, which the Company will recognize through income from operations over the terms of the transition services and co-manufacturing agreements.

3.INVENTORIES

Inventories consisted of the following:(in thousands)As of  December 29, 2024As of December 31, 2023Finished goods$66,976 $65,673 Raw materials27,081 29,757 Maintenance parts7,305 9,236 Total inventories$101,362 $104,666 In connection with the Good Health and R.W. Garcia Sale in February 2024 and the Manufacturing Facilities Sale in April 2024, the Company sold inventory of $6.3 million and $1.6 million, respectively. See Note 2. Divestitures.

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4.PROPERTY, PLANT AND EQUIPMENT, NET

Property, plant and equipment, net, consisted of the following:(in thousands)As ofDecember 29, 2024As of December 31, 2023Land$25,861 $28,561 Buildings113,227 123,603 Machinery and equipment215,529 248,886 Land improvements2,655 3,887 Building improvements2,791 5,163 Construction-in-progress107,425 35,533  467,488 445,633 Less: accumulated depreciation(122,278)(126,752)Property, plant and equipment, net$345,210 $318,881 On April 28, 2022, certain of the Company's subsidiaries purchased a brand new, recently completed snack food manufacturing facility in Kings Mountain, North Carolina from Evans Food Group Ltd. d/b/a Benestar Brands and related affiliates. The total cash purchase price of the facility was approximately $38.4 million, plus assumed liabilities of $1.3 million. The Company paid the full cash purchase price of $38.4 million at the closing and concurrently with the facility purchase, the Company sold 2.1 million shares of the Company’s Class A Common Stock for $28.0 million, to affiliates of Benestar in a private placement pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended.During the fiscal year ended January 1, 2023, the Company recorded impairments totaling $2.7 million related to property and equipment damaged in one of