Intersnack Group, the German savoury snacks manufacturer has agreed to acquire Utz Brands, the US salty snacks producer in a transaction valuing the business at approximately $2.9 billion.
Under the definitive agreement Intersnack will purchase all outstanding shares of Utz’s Class A common stock for $14.25 per share in cash representing a premium of approximately 91% to its closing share price on the 20th July 2026. Following completion, Utz will become a privately held company jointly owned by Intersnack and the Rice and Lissette family entities, with each holding a 50% stake, and its shares will subsequently be delisted from the New York Stock Exchange.
The deal will provide Intersnack with its first presence in the US snack market. Johan van Winkel executive chairman of Intersnack Group said: “We have long admired Utz’s brands, its heritage and the strength of its team. Together with the Rice and Lissette family and Utz’s management and associates, we see a tremendous opportunity to build on Utz’s strong foundation and help shape the future of snacking in North America.”
The acquisition will be financed through approximately $920 million in cash from Intersnack, a new $1.1 billion term loan facility, borrowings under a $250 million asset-based lending facility, equity rolled over by the Rice and Lissette family, and the reinvestment of part of the proceeds from a $44 million tax receivable agreement settlement. The deal is expected to close in the fourth quarter of 2026, subject to regulatory clearance and shareholder approval.
Source: Foodbev
