Utz Brands Inc · NYSE:UTZ
Utz Brands — Collier Creek Holdings — Merger or Acquisition (July 2020)
10 slides from Utz Brands's merger presentation, Jul 29, 2020
Slide 1: Q2 Financial Update
℠ Q2 Financial Update July 29, 2020
Slide 2: Disclaimer
℠ This financial update (“Financial Update”) is for informational purposes only to assist interested parties in making their ow n e valuation with respect to the proposed business combination (the “Business Combination”) between Collier Creek (“CCH”) and Utz Brands Holdings, LLC (“Utz” or the “Compa
Slide 3: Utz Sustained Impressive Momentum in Q2
℠ 3/22/2020 4/19/2020 5/17/2020 6/14/2020 7/12/2020 Food & Beverage 33% 12% 15% 11% 11% Total Salty Snacks 22% 9% 12% 10% 9% PepsiCo 22% 10% 12% 9% 8% Campbell's 28% 16% 16% 10% 7% Kellogg's 22% (0%) 6% 6% 13% 29% 23% 24% 18% 16% General Mills 9% (19%) (10%) (6%) (3%) Private Label 21% 5% 8% 3% 2% U
Slide 4: Increased Belief COVID Favorable for Utz's Brands Longer Term
℠ Increased Belief COVID Favorable for Utz’s Brands Longer Term ▪ Initial stay - at - home orders reintroduced at - home cooking and eating, which are likely to continue amidst continued uncertainty ▪ Even after re - openings, people will spend more time at home and avoid offices, restaurants, and p
Slide 5: Strong Utz Financial Results Continued in Q2
℠ $22 $29 $51 $30 $33 $63 Q1 Q2 - Q4 Full Year $204 $218 $422 $228 $242 $470 Q1 Q2 - Q4 Full Year Strong Utz Financial Results Continued in Q2 Pro Forma Net Sales ($mm ) (2) 1). Unmeasured channels, which are currently estimated at approximately 30% of Utz’s invoiced sales, include n atural grocery,
Slide 6: Updated 2020 Utz Projections
℠ $422 $444 $866 $470 $462 $932 Q1 Q2 - Q4 Full Year $51 $57 $108 $63 $61 $124 Q1 Q2 - Q4 Full Year Updated 2020 Utz Projections Pro Forma Net Sales ($mm) (1) 1). Includes the full period impact of the acquisitions of Conagra Snacks and Kitchen Cooked. 2020 numbers exclude the impact of the 53 rd we
Slide 7: Updated Utz Summary Financials
℠ $108 $124 $134 12% 13% 14% 2019 2020E 2021E $866 $928 $932 2019 2020E 2021E 12% 8% 0% Updated Utz Summary Financials 1). 2019 is p ro forma for the acquisitions of Conagra Snacks and Kitchen Cooked. 2020 excludes impact of Utz’s 53 rd week. See pages 6 and 7 for reconciliation. 2). 2019 is pro for
Slide 8: Appendix
Appendix AVOCADO OIL)
Slide 9: Non-GAAP Reconciliation
℠ Non - GAAP Reconciliation Note: Dollars in Millions. Numbers may not foot due to rounding. 1). Includes GAAP interest expense related to third - party obligations, net of interest income, on loans made to independent DSD operators to purchase delivery routes. 2 ). Includes fair value adjustment to
Slide 10: Pro Forma and Further Adjusted Financials Reconciliation
℠ Pro Forma and Further Adjusted Financials Reconciliation Note: Dollars in Millions . Numbers may not foot due to rounding. 1). Includes Conagra Snacks and Kitchen Cooked pre - acquisition contribution. 2). Includes Conagra Snacks synergies in addition to synergies related to the acquisition of Kit
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