Utz Quality Foods, Inc. of Hanover, PA and Golden Enterprises, Inc. Announce That They Entered Into a Definitive Merger Agreement

BIRMINGHAM, Ala. & HANOVER, Pa.--(BUSINESS WIRE)--Golden Enterprises, Inc. (the “Company”) (NASDAQ: GLDC) and Utz Quality Foods, Inc. of Hanover, PA (“Utz”) announced that they entered into a definitive merger agreement on July 18, 2016, pursuant to which Utz will acquire the Company and Company stockholders will receive $12.00 per share in cash. This price represents a premium of approximately 71 percent over the Company’s 30-day average closing trading price of $7.00.