Golden Flake
Southern snack foods now part of Utz Quality Foods.
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. It is now part of Utz Quality Foods. The brand began in the 1920s as Magic City Foods, founded by Mose Lischkoff and Frank Mosher in a Birmingham, Alabama, grocery store basement. In 1956, Sloan Bashinsky Sr bought Magic City Foods from his father and uncle, changed the name to Golden Flake a year later, and moved production to its current 5-acre site in 1958. The company went public in 1968 as Golden Enterprises, Inc., and was listed on NASDAQ under the symbol GLDC. On July 19, 2016, Golden Flake announced it was being acquired by Utz for $12.00 per share in cash, a 71% premium over the average 30-day trading price of $7.00.
Quick Facts
- Traded as
- GLDC
- Founded
- 1923
- Founder
- Mose Lischkoff and Frank Mosher
- Headquarters
- Birmingham, Alabama
- Country
- United States
- Key people
- Mark W. McCutcheon (chairman of the board)
- Paul R. Bates (EVP)
- David A. Jones (EVP)
- Patty Townsend (CFO)
- Industry
- Snack food
- Parent
- Utz Quality Foods
Facts from the source article.
Background
One of Golden Flake's most famous spokesmen was Paul 'Bear' Bryant, the head football coach for the Alabama Crimson Tide. For years, the potato chips, along with Coca-Cola, were marketed with the slogan, "'Great Pair' says 'the Bear'." In 1963, Sloan Bashinsky Sr oversaw the acquisition of Don's Foods, a Nashville, Tennessee-based snack producer and distributor. The company went public in 1968, changing its name to Golden Enterprises, Inc., and was listed on NASDAQ under the symbol GLDC. It is no longer publicly traded today. On July 19, 2016, Golden Flake announced 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.
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