Golden Flake

Golden Flake

Company type	Subsidiary
Traded as	Nasdaq: GLDC
Industry	Snack food
Founded	1923; 101 years ago (1923)
Founder	Mose 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	Mark W. McCutcheon (chairman of the board) Paul R. Bates (EVP) David A. Jones (EVP) Patty Townsend (CFO)
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.

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.^[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 spokesmen was Paul "Bear" Bryant, the 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

1. "New potato chips from Golden Flake coated with caffeine". The Decatur Daily. Decatur, AL. Associated Press. September 3, 2007. 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. "Golden Flake - Bhamwiki". www.bhamwiki.com. Retrieved 2021-03-15.
4. Poe, Ryan (July 18, 2013). "Rising costs take bite out of Golden Flake earnings". Birmingham Business Journal. Retrieved January 7, 2014.
5. Nicholson, Gilbert (February 28, 2000). "Coca-Cola, Golden Flake consider selling tapes of Bryant's show". Sports Business Daily. Retrieved January 7, 2014.
6. 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.
7. Nicholson, Gilbert (February 27, 2000). "'Great Pair' hoping to bring back 'The Bear'". Birmingham Business Journal. Retrieved January 7, 2014.
8. 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.

External links

• Official website