Utz Brands, a snack food company, agreed to acquire Truco Enterprises, a developer and marketer of tortilla chips, salsa, and queso, from Insignia Capital Group, a private equity firm focused on middle-market companies, for $480m. The deal is expected to close in December 2020 and is subject to customary closing conditions including the receipt of regulatory approvals. "The Truco team is thrilled to be joining the Utz family of brands, and we are thankful to our partners at Insignia Capital for all of their support. On The Border is now one of the fastest growing Tortilla chip brands and the fastest growing dip brand in the category. Utz will be able to leverage its world class Direct Store Delivery network to help expand our brand into new markets. As a result, more consumers across the US will have access to our delicious, high quality tortilla chips and dips. I'm looking forward to working with Dylan and the rest of the Utz senior management team to continue our excellent growth trajectory," Shane Chambers, Truco CEO.