All-cash deal offers 91% premium to shareholders
Utz Brands Inc. (NYSE:UTZ) has agreed to be acquired by Germany’s Intersnack Group in a transaction valued at approximately $2.9 billion, including debt, ending the snack food company’s time as a publicly traded business.
Under the agreement announced on Tuesday, Intersnack will acquire all outstanding Class A common shares for $14.25 per share in cash, representing a premium of approximately 91% to Utz’s closing share price on July 20, 2026.
Ownership to be shared after transaction closes
Upon completion of the acquisition, Utz will become a privately held company jointly owned by Intersnack Group and the Rice and Lissette Family Entities, with each holding a 50% ownership stake.
“Intersnack shares our vision for Utz, and their marketing, manufacturing, and technology capabilities will be invaluable as we continue to invest in our brands and accelerate our strategy,” said Howard Friedman, Chief Executive Officer of Utz.
Dylan Lissette, Chairperson of the Utz Board of Directors, said the company is excited to partner with Intersnack. “We believe that Intersnack is a like-minded partner with similar family heritage and a deep appreciation of the power of beloved brands,” Lissette said.
Johan van Winkel, Executive Chairman of Intersnack Group, said the acquisition provides an opportunity for the company to establish a presence in the U.S. snack food market, where it currently has no operations.
Financing structure includes debt and family reinvestment
The acquisition will be funded through a combination of approximately $920 million in cash from Intersnack, a new $1.1 billion term loan facility, a $250 million asset-based lending facility, rollover equity from the Rice and Lissette Family and an additional family reinvestment.
The Rice and Lissette Family, Dylan Lissette and certain affiliates have committed to vote shares representing roughly 42% of Utz’s outstanding common stock in favour of the transaction.
Closing expected in late 2026
The companies expect the transaction to close during the fourth quarter of 2026, subject to shareholder approval, regulatory clearances and other customary closing conditions.
Following completion of the acquisition, Dylan Lissette will become Executive Chair of Utz, and the company’s shares will be delisted from the New York Stock Exchange as it transitions to private ownership.
Utz Brands stock price
