Salty snacks manufacturer Utz Brands Inc. announced Thursday that two of its subsidiaries entered into a definitive agreement to buy Truco Enterprises, the producer of the ON THE BORDER (OTB) brand of tortilla chips, salsa, and queso. Heron Holding Corporation and Utz Quality Foods will pay $480 million to acquire the business.

“This strategic acquisition will make Utz a significant player in the tortilla chip subcategory, where OTB holds the #3 position, and also provides us with a meaningful position in salsa, queso, and dips,” Dylan Lissette, chief executive officer of the snack maker said in a company release. “In combination with our small, but growing, premium Tortiyahs! Brand, the integration of the ON THE BORDER brand will continue to improve Utz’s scale and product diversification, which are important success factors for salty snacks.”

Utz said it will utilize its capabilities in sales, manufacturing, and distribution to build the brand’s presence in channels where it is currently under-represented, including grocery and convenience. The company will also put its marketing and innovation resources behind OTB.

“The Truco team is thrilled to be joining the Utz family of brands, and we are thankful to our partners at Insignia Capital for all their support,” Truco Enterprises CEO Shane Chambers said in a statement. “ON THE BORDER is now one of the fastest growing tortilla chip brands, and the fastest growing dip brand in the category. Utz will be able to leverage its world class Direct Store Delivery network to help expand our brand into new markets. As a result, more consumers across the US will have access to our delicious, high quality tortilla chips and dips.”

Under the terms of the transaction, Truco will become an Utz subsidiary. The companies expect the deal to close this December following the completion of regulatory approvals and customary closing conditions.