Utz Brands Hires Kelley as Financial Officer, Promotes Stuart to Sales Role
William J. Kelley Jr.
Utz Brands, Inc. has appointed William J. Kelley Jr. (Bill) as executive vice president, chief financial officer and principal accounting officer, effective May 1. He will succeed Ajay Kataria, who will step down as those positions on May 1.
Kelley most recently served as global chief financial officer at Tropicana Brands Group, Inc. Upon joining Utz on May 1, he will work closely with Kataria to help ensure a seamless transition through May 31. Kelley will report to Howard Friedman, chief executive officer of Utz.
“Bill brings deep financial expertise and operational experience across some of the most respected names in food and beverage. We are excited to welcome him to Utz as we continue executing on our long-term growth strategy,” said Friedman. “I want to extend our gratitude to Ajay for his leadership and impact over the past eight years, the last four as CFO — his contributions were many, including as part of our public listing in 2020, multiple acquisitions and integrations, as well as a major ERP installation; all were instrumental in building our financial foundation. We wish Ajay all the best.”
Commenting on his appointment, Kelley said, “I have long admired the Utz brand and the tremendous momentum it has captured behind its geographic expansion. I’m thrilled to be joining the team at such an exciting time and look forward to partnering with Howard and the broader leadership team to drive continued growth and value for shareholders.”
“I am incredibly proud of all we have accomplished during my time at Utz,” said Kataria. “It has been an honor to help grow and expand this great company. I will be supporting the team during this transition period and look forward to all that is ahead for Utz.”
Jeremy Stuart
Utz also announced that Mark Schreiber, executive vice president, sales & chief customer officer, will retire effective May 31, and will remain in a transition role through the end of June. He will be succeeded by Jeremy Stuart, currently senior vice president, large format.
Schreiber joined Utz Brands in 2017 and held multiple leadership roles across both Sales and Marketing. During his tenure, Utz’s annual sales grew significantly, supported by successful acquisitions, distribution expansions, and brand integrations.
“Mark has been a true champion of the Utz brand and a driving force behind our commercial success. We are incredibly grateful for his leadership and wish him the very best in his well-earned retirement,” said Friedman.
“Jeremy’s deep understanding of the customer landscape and operational focus make him the ideal leader to build on Mark’s legacy and take our customer partnerships to the next level,” added Friedman.
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Cal-Maine Foods to Acquire Echo Lake Foods
Cal-Maine Foods, Inc. has entered into a definitive agreement to acquire Echo Lake Foods, Inc.
Cal-Maine signed a definitive agreement to acquire Echo Lake Foods for approximately $258 million, excluding expected tax assets resulting from the transaction, to be funded with available cash on hand.
Echo Lake Foods was founded in 1941 and acquired by the Meinerz family in 1981. Based in Burlington, Wis., The company produces, packages, markets and distributes ready-to-eat egg products and breakfast foods, including waffles, pancakes, scrambled eggs, frozen cooked omelets, egg patties, toast and diced eggs. It had annual revenues of approximately $240 million in 2024 with a five-year CAGR of approximately 10%. The transaction has been approved by both companies’ boards of directors and is expected to close by the end of fiscal 2025 following completion of regulatory approvals and subject to customary closing conditions. The transaction is not subject to shareholder approval.
Compelling Strategic Rationale
- Allows Cal-Maine Foods to enter the large, growing and highly stable value-added food portion of the egg category
- Expands strategic customer relationships with retail, quick service restaurant and other foodservice customers
- Leverages Cal-Maine Foods’ extensive sales and supply chain distribution capabilities
- Echo Lake Foods will operate as a stand-alone component of Cal-Maine Foods’ integrated operations with its four production facilities strategically located across the Midwest
- Kathy Brodhagen, current chief executive officer of Echo Lake Foods, to join Cal-Maine Foods’ senior management team as President of Echo Lake Foods
Commenting on the proposed transaction with Echo Lake Foods, Sherman Miller, president and chief executive officer of Cal-Maine Foods, stated, “This transaction represents an exciting growth opportunity and important inflection point for Cal-Maine Foods, advancing our strategy to expand and diversify our product portfolio and customer mix. Echo Lake Foods is a leading innovator with a long history of providing quality ready-to-eat egg products and breakfast foods to a blue-chip customer base. The combined product lines and capabilities of the two companies are highly complementary and, importantly, we share similar values of pursuing operating excellence and meeting the needs of our customers. We believe the potential acquisition of Echo Lake Foods meets our disciplined set of investment criteria, including relevant geographic markets, operating synergies, product mix, proximity to customers and expected financial returns.
“The addition of Echo Lake Foods will supplement our other ready-to-eat egg product offerings, including hard-cooked eggs for retail, quick service restaurant and other foodservice needs from our expanded MeadowCreek Foods operation, and ready-to-eat egg products including egg wraps, protein pancakes, crepes, and wrap-ups from our joint venture with Crepini Foods LLC. Importantly, diversifying our product portfolio offers a strong, high-return potential that complements our existing organic growth opportunities. The Echo Lake Foods team has built a terrific business, and we look forward to working together on a successful integration and delivering on a unique opportunity for our customers and shareholders,” added Miller.
Brodhagen added, “We are excited to have the opportunity for Echo Lake Foods to join Cal-Maine Foods and continue to expand our market reach for quality ready-to-eat egg products and breakfast foods. This business combination will benefit everyone associated with Echo Lake Foods, especially our dedicated employees and valued customers. As the leading producer and distributor of fresh shell eggs in the nation, Cal-Maine Foods has an excellent reputation with a proven record of success. We are extremely proud to join their team, and we look forward to the significant growth opportunities ahead of us.”
Goldman Sachs & Co LLC is serving as Cal-Maine Foods, Inc.’s exclusive financial advisor while Sidley Austin LLP and Jones Walker LLP are serving as its legal advisors.
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ProAmpac Expands Dairy Packaging Portfolio
ProAmpac, a global leader in flexible packaging and material science, expands its dairy packaging portfolio with high-performance butter wraps, including its Butter Fresh Parchment and foil-paper-based options. Designed to protect butter, margarine, and other oil-based solid products, these wraps offer superior grease resistance and excellent dead-fold properties to maintain freshness and minimize air exposure.
“With Butter Fresh Parchment, we’re delivering a wax-free, PFAS-free solution with excellent grease resistance and designed for compostability,” said Jim Tierney, vice president of product development at ProAmpac. “Paired with our durable foil-paper-based wrap, these solutions ensure efficient processing and premium product presentation.”
ProAmpac’s foil-paper wrap offers an excellent grease barrier and UV protection to preserve product integrity. It is designed for high-speed processing, with embossing that enhances runnability, adds texture, and improves dead-fold performance. The product is also designed with a strong bond to resist delamination and curling.
Beyond butter wraps, ProAmpac provides a full range of dairy packaging, including lidding solutions, cheese packaging, and spouted yogurt pouches. PRO-FLEX® films meet the needs of natural chunk, retail shred, and institutional shred cheese markets.
Committed to sustainability and innovation, ProAmpac continues to develop flexible packaging solutions for the dairy industry. For more information, please contact Marketing@ProAmpac.com or visit ProAmpac.com.
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