Intersnack to Take Utz Brands Private in $2.9 Billion Deal — Utz Brands, Inc.

Event summary

Intersnack Group to acquire all outstanding shares of Utz Brands for $14.25 per share in cash, representing a 91% premium over the July 20, 2026 closing price.
The deal values Utz at approximately $2.9 billion and is expected to close in Q4 2026.
Post-transaction, Utz will become private with Intersnack Group and the Rice and Lissette Family each owning 50% of the company.
Dylan Lissette will assume the role of Executive Chair of Utz following the closing of the transaction.

The big picture

Intersnack’s acquisition of Utz marks a significant expansion into the U.S. snack market, where it currently has no presence. The deal highlights the strategic importance of family-owned businesses in the consumer staples sector and underscores the ongoing consolidation trend in the global snacks industry. With a combined enterprise value of $2.9 billion, the partnership aims to leverage Utz’s strong brand heritage and Intersnack’s operational expertise to shape the future of snacking in North America.

What we're watching

Integration Strategy: How Intersnack will leverage its international experience to accelerate Utz’s growth in the U.S. market.
Regulatory Approval: The pace at which regulatory and shareholder approvals are secured, given the transaction's size and complexity.
Operational Synergies: Whether Intersnack can successfully integrate Utz’s manufacturing and marketing capabilities to drive long-term value.