Type Public (NASDAQ: GLDC) Founded 1923 | Industry Snack Food Parent organization Golden Enterprises, Inc. | |
Area served Alabama, Mississippi, Georgia, Florida, Tennessee, Arkansas, Louisiana, South Carolina, Kentucky, Texas, Oklahoma, Missouri, Virginia, North Carolina, Indiana 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) Revenue $137.3 Million USD (2013) Net income $1.1 Million USD (2013) Headquarters Birmingham, Alabama, United States Founders Mose Lischkoff, Frank Mosher Profiles | ||
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Golden Flake Snack Foods, a wholly owned subsidiary of Golden Enterprises, is a producer of potato chips, tortilla chips, corn chips, cheese curls, fried pork skins, and other snack foods in the southern United States.
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History
The Golden Flake brand (originally known as Magic City Foods) 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. In 1968, the company went public, changing its name again to Golden Enterprises, Inc. It is still publicly traded today, listed in the NASDAQ under the symbol "GLDC".
One of its most famous spokesman was Paul "Bear" Bryant, the legendary 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'".
On July 19, 2016, Golden Flake announced that it was being acquired by Utz Quality Foods for $12.00 per share in cash, representing a 71% premium over the average 30 day trading price of $7.00.
Operations
In 2010, John S. Stein retired as Chairman of the Board of Golden Enterprises. In honor of his many years of leadership, Stein was named Chairman Emeritus of the Golden Enterprises Board of Directors. Mark McCutcheon was elected as the new Chairman.