Utz Brands has agreed to be acquired by Germany-based Intersnack Group in a deal valued at approximately $2.9 billion, including debt. Intersnack will acquire all outstanding shares of Utz Class A common stock for $14.25 per share in cash, representing a premium of about 91% to Utz's July 20 closing price. Following the transaction, Utz will become privately held, with the Rice and Lissette family entities and Intersnack each owning a 50% stake, and its common stock will no longer be listed on the New York Stock Exchange. The acquisition will be financed through approximately $920 million in cash from Intersnack, a new $1.1 billion term loan facility, a new $250 million asset-based lending facility, rollover equity from the Rice and Lissette family, and a reinvestment of proceeds from a $44 million settlement of Utz's tax receivable agreement. The deal is expected to close in the fourth quarter of 2026, after which Dylan Lissette will become executive chair of Utz.
Utz Brands IncAcquisition at 91% premium to recent price, providing immediate cash value to shareholders.
Intersnack acquires Utz at a premium, expanding its portfolio and market presence.