German savoury snack manufacturer Intersnack Group has agreed to acquire all outstanding shares of Utz Brands’ Class A common stock in a transaction valuing the US snack producer at approximately USD2.9 billion.

Intersnack will pay USD14.25 per share in cash, representing a premium of approximately 91% over Utz’s closing share price on July 20. Following completion of the transaction, Utz will become a private company owned equally by Intersnack and entities associated with the company’s founding Rice and Lissette family.

The transaction would give Intersnack an entry into the US snack market, where the European group does not currently have a presence. Utz, headquartered in Hanover, Pennsylvania, produces potato chips and other savoury snacks under brands including Utz, Zapp’s, Boulder Canyon and On The Border.

“Our partnership with the Rice and Lissette Family, and commitment to Utz, represents a compelling opportunity for Intersnack to expand our exposure into the large and attractive U.S. snacking market, where we do not currently have a presence,” said Johan van Winkel, executive chairman of Intersnack Group. “We have long admired Utz’s brands, its heritage and the strength of its team.”

The deal is expected to close during the fourth quarter of 2026, subject to regulatory clearance and approval from Utz shareholders, including a majority of votes cast by disinterested shareholders. The Rice and Lissette family, Dylan Lissette and certain affiliated shareholders have agreed to vote shares representing approximately 42% of Utz’s common stock in favour of the transaction.

Financing will include approximately USD920 million in cash from Intersnack, a new USD1.1 billion term loan, a USD250 million asset-based lending facility and equity retained or reinvested by the Rice and Lissette family.

Once the transaction closes, Utz shares will cease trading on the New York Stock Exchange and Dylan Lissette, currently chairperson of the Utz board, will become executive chair of the private company.

Utz recorded net sales of USD1.44 billion in its 2025 financial year, an increase of 2.1% from the previous year. Branded salty snacks accounted for 88% of its sales, led by the Utz, On The Border, Zapp’s and Boulder Canyon brands.

“I have spent significant time with the Intersnack team and have been impressed by Intersnack’s deep understanding of the snacking landscape, experience growing distinctive and long-standing brands, and strength in innovation,” said Howard Friedman, chief executive officer of Utz. “Intersnack shares our vision for Utz, and their marketing, manufacturing, and technology capabilities will be invaluable as we continue to invest in our brands and accelerate our strategy.”

Intersnack began as a German potato chip producer in 1968 and has since developed a portfolio covering potato chips, nuts, baked snacks and other savoury products. Its brands include funny-frisch, Chio, POM-BEAR, Hula Hoops, McCoy’s, Tayto and Tyrrells. The privately owned company reported turnover of approximately EUR4.5 billion in 2025 and employs around 15,000 people worldwide.