This follows the transition of Utz from a privately held concern to a publicly traded company in August.
The monies will be contributed to The Rice Family Foundation, which was formed in 2017 by Mike and Jane Rice in 2017 to dedicate their resources to fostering a better community.
The $10m pledge – with a commitment to making additional donations in the future – significantly increases the annual contributions by the families, and will enable the Foundation to fulfil its ongoing goal of supporting the education, health and general wellbeing of residents of Hanover and the broader central Pennsylvania community.
‘Giving back to the bedrock of our success’
“For almost 100 years, Hanover has helped Utz expand beyond our greatest expectations, and we feel a special commitment to giving back to the place and the people who have been the bedrock of our success,” said Mike and Jane Rice.
“This donation to the foundation will allow us to continue actively supporting the community, but with much greater annual impact.”
Dylan Lisette, CEO of Utz Brands, added, “The recent public listing of Utz Brands has positioned the company for its next century of growth.
“The Hanover area is fortunate to have many organisations that put their time and talents to work to invest in and improve our community. As we look ahead to our next chapter, my wife Stacie and I will continue to keep our focus right here at home, supporting critical initiatives that make this such a wonderful place to live and work.”
The Rice Family Foundation is a 501 (c) organisation that provides financial grants to eligible non-profits serving the greater Hanover, Pennsylvania community.
In 2019, the Foundation awarded grants to 33 Hanover-area non-profits that provide services ranging from behavioural health and wellness care to youth organisations to service providers for survivors of domestic violence.