Key Highlights
- Germany’s Intersnack Group has reached an agreement to purchase Utz Brands for $14.25 per Class A share in an all-cash transaction.
- The transaction assigns Utz an enterprise value of approximately $2.9 billion, representing a 91% markup above Monday’s share price.
- Shares of UTZ climbed nearly 89% during Tuesday’s trading session after the acquisition was made public.
- Upon completion, ownership will be evenly divided between Intersnack and the founding Rice and Lissette families.
- The company will transition off the New York Stock Exchange and has canceled its second-quarter earnings presentation, with closing anticipated in Q4 2026.
Pennsylvania-based Utz Brands (UTZ) is heading toward private ownership. German snack food manufacturer Intersnack Group has agreed to acquire the company at $14.25 per Class A share in cash.
The transaction places Utz’s total enterprise value at approximately $2.9 billion when including outstanding debt. This represents a substantial 91% premium relative to where shares closed on Monday.
Market response to the buyout news was immediate and dramatic. UTZ stock surged nearly 89% during Tuesday’s session, reaching approximately $14.06 per share.
The acquisition was publicly revealed on July 21, 2026. Company leadership from both organizations characterized the agreement as a strategic alignment between two family-oriented enterprises.
Howard Friedman, serving as Utz’s Chief Executive Officer, emphasized that Intersnack brings significant strengths in marketing infrastructure, production capabilities and technological resources that will support brand expansion. He positioned the transaction as enabling continued investment across Utz’s product lines.
Dylan Lissette, who chairs Utz’s board of directors, expressed similar sentiment. He characterized Intersnack as an aligned partner that values and respects established consumer brands.
Key Stakeholders in the Transaction
The Rice and Lissette families have maintained operational control of Utz across multiple generations. Following the deal’s completion, they will retain a 50% ownership stake alongside Intersnack’s equal share.
Dylan Lissette is set to assume the role of Executive Chair at Utz when the acquisition finalizes. The founding family and associated entities have already pledged approximately 42% of the company’s voting shares in support of the transaction.
Intersnack brings considerable scale to the partnership. Established in Germany in 1968, the company currently maintains facilities across 31 nations, employs approximately 14,500 workers, and generated around $5 billion in revenue during 2025.
This acquisition represents Intersnack’s inaugural entry into the American snack food sector. Executive Chairman Johan van Winkel described the deal as an opportunity to establish operations in a market where the company previously had no presence.
Financing Structure
Intersnack intends to finance the acquisition using approximately $920 million in available cash reserves. The remaining balance will be secured through a newly arranged $1.1 billion term loan alongside a $250 million asset-based credit facility.
The Rice and Lissette family will convert a portion of their existing ownership into equity in the privatized entity. This arrangement ensures the founding family maintains a financial stake in Utz’s ongoing performance.
Both Utz’s full board and a designated committee of independent directors have given unanimous approval to the agreement. The transaction still requires clearance from stockholders and relevant regulatory authorities before finalization.
Closing is projected for the fourth quarter of 2026. Upon completion, Utz’s publicly traded shares will be withdrawn from the New York Stock Exchange.
The company has announced it will forgo its scheduled second-quarter earnings presentation. This decision stems directly from the ongoing acquisition process.
Utz produces snack foods marketed under several brand names including Utz, On The Border Chips & Dips, Zapp’s and Boulder Canyon. Headquartered in Hanover, Pennsylvania, the company maintains distribution networks spanning grocery stores, mass retailers and convenience store channels throughout the United States.
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