Utz Brands will be taken private after Germany’s Intersnack Group agreed to purchase the snack maker for approximately $2.9 billion. The acquisition price offers Utz shareholders $14.25 per Class A share in cash, representing a 91% premium over the previous closing price. Following the announcement, Utz’s stock surged nearly 89%, trading around $14.06.
Ownership Structure and Strategic Partnership
The new ownership will be equally divided between Intersnack and the Rice and Lissette family entities, who have managed Utz for generations. Dylan Lissette, chairperson of Utz’s board, will become Executive Chair after the transaction closes. The family and certain affiliates have already pledged about 42% of the voting stock in favor of the deal. Both companies emphasized the partnership reflects shared family legacies and a mutual respect for their brands.
Deal Financing and Market Impact
Intersnack plans to fund the $2.9 billion transaction with roughly $920 million in cash, supplemented by a $1.1 billion term loan and a $250 million asset-based lending facility. The Rice and Lissette family will reinvest some of their equity in the newly private company, maintaining a financial stake in Utz's future. Post-acquisition, Utz will delist from the New York Stock Exchange and forgo its Q2 earnings call. The transaction is expected to finalize in the fourth quarter of 2026, pending shareholder and regulatory approvals.
Founded in 1968, Intersnack operates in 31 countries with approximately 14,500 employees and generated about $5 billion in sales in 2025. This deal marks its first expansion into the US snack market. Utz’s CEO Howard Friedman highlighted that Intersnack’s capabilities in manufacturing, marketing, and technology will facilitate growth of Utz’s portfolio.
This material is for informational purposes and not financial advice.
