Golden Flake
Golden Flake Snack Foods, is a producer of potato chips, tortilla chips, corn chips, cheese curls, fried pork skins, and other snack foods in the southern United States.[1] It is now part of Utz Quality Foods.
Type | subsidiary of private company |
---|---|
Industry | Snack Food |
Founded | 1923 |
Founder | Mose Lischkoff and Frank Mosher |
Headquarters | , |
Area served | Alabama, Mississippi, Georgia, Florida, Tennessee, Arkansas, Louisiana, South Carolina, Kentucky, Texas, Oklahoma, Missouri, Virginia, North Carolina, Indiana, Maryland |
Key people | Mark W. McCutcheon (Chairman of the Board), Paul R. Bates (Executive Vice President), David A. Jones (Executive Vice President), Patty Townsend (Chief Financial Officer) |
Parent | Utz Quality Foods |
Website | Golden Flake Snack Foods |
History
The Golden Flake brand (originally known as Magic City Foods)[2] was established in the 1920s by Mose Lischkoff and Frank Mosher in a Birmingham, Alabama grocery store basement. The company changed its name from Magic City Foods to Golden Flake, Inc. in 1956 after having been bought and sold by several different owners.[3] In 1968, the company went public, changing its name again to Golden Enterprises, Inc. It is no longer publicly traded today, and was listed in the NASDAQ under the symbol "GLDC".[4]
One of its most famous spokesman was Paul "Bear" Bryant, the legendary head football coach for the Alabama Crimson Tide.[5] For years, the potato chips, along with Coca-Cola, were marketed with the slogan, "'Great Pair' says 'the Bear'".[6][7]
On July 19, 2016, Golden Flake announced that it was being acquired by Utz for $12.00 per share in cash, representing a 71% premium over the average 30 day trading price of $7.00.[8]
References
- "New potato chips from Golden Flake coated with caffeine". The Decatur Daily. Decatur, AL. Associated Press. September 3, 2007. Retrieved January 7, 2014.
- Burhans, Dirk (August 18, 2008). Crunch!: A History of the Great American Potato Chip. Madison, WI: University of Wisconsin Press. p. 80. ISBN 978-0299227708. Retrieved January 7, 2014.
- Burnett, Emmett (October 2013). "Top Crunch of Millions Turns 90; Ninety years old this year, Golden Enterprises is master of the South's favorite chip — leader in a feast of snack foods producing sales of over $136 million". Business Alabama. Retrieved January 7, 2014.
- Poe, Ryan (July 18, 2013). "Rising costs take bite out of Golden Flake earnings". Birmingham Business Journal. Retrieved January 7, 2014.
- Nicholson, Gilbert (February 28, 2000). "Coca-Cola, Golden Flake consider selling tapes of Bryant's show". Sports Business Daily. Retrieved January 7, 2014.
- Theibert, Philip (June 8, 2013). Potato Chip Economics: Everything you need to know about business clearly and concisely explained. New Alresford: John Hunt Publishing Ltd. ISBN 978-1782790341. Retrieved January 7, 2014.
- Nicholson, Gilbert (February 27, 2000). "'Great Pair' hoping to bring back 'The Bear'". Birmingham Business Journal. Retrieved January 7, 2014.
- Golden Enterprises, Inc. and Utz Quality Foods, Inc. announced that they entered into a definitive merger agreement GoldenFlake.com (Golden Enterprises's website) https://goldenflake.com/golden-enterprises-inc-utz-quality-foods-inc-announced-entered-definitive-merger-agreement/ Retrieved September 13, 2016.