Golden Flake

Last updated
Golden Flake
Company type Subsidiary
Nasdaq: GLDC
IndustrySnack food
Founded1923;103 years ago (1923)
FounderMose Lischkoff and Frank Mosher
Headquarters
Birmingham, Alabama
,
United States
Area served
Alabama, Mississippi, Georgia, Florida, Tennessee, Arkansas, Louisiana, South Carolina, Kentucky, Texas, Oklahoma, Missouri, Virginia, North Carolina, Indiana, Maryland
Key people
Parent Utz Quality Foods
Website www.utzsnacks.com/pages/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.

Contents

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.

In 1956, Sloan Bashinsky Sr bought Magic City Foods from his father and uncle. He changed the name to "Golden Flake" a year later and, in 1958 moved the production facility to its current 5-acre site. In 1963 he oversaw the acquisition of Don's Foods, a Nashville, Tennessee-based snack producer and distributor.[ citation needed ] 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". [3]

One of its most famous spokesmen was Paul "Bear" Bryant, the head football coach for the Alabama Crimson Tide. [4] For years, the potato chips, along with Coca-Cola, were marketed with the slogan, "'Great Pair' says 'the Bear'". [5] [6]

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. [7]

References

  1. ↑ "New potato chips from Golden Flake coated with caffeine". The Decatur Daily . Decatur, AL. Associated Press. September 3, 2007. Archived from the original on January 8, 2014. Retrieved January 7, 2014.
  2. ↑ 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.
  3. ↑ Poe, Ryan (July 18, 2013). "Rising costs take bite out of Golden Flake earnings". Birmingham Business Journal . Retrieved January 7, 2014.
  4. ↑ Nicholson, Gilbert (February 28, 2000). "Coca-Cola, Golden Flake consider selling tapes of Bryant's show". Sports Business Daily . Retrieved January 7, 2014.
  5. ↑ 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.
  6. ↑ Nicholson, Gilbert (February 27, 2000). "'Great Pair' hoping to bring back 'The Bear'". Birmingham Business Journal . Retrieved January 7, 2014.
  7. ↑ 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/ Archived 2016-09-24 at the Wayback Machine Retrieved September 13, 2016.
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