Utz Brands to Go Private in $2.9B Deal with Intersnack Group at $14.25/Share, a 91% Premium

summarizeSummary

Utz Brands agreed to be acquired by Intersnack Group for $14.25 per share in cash, a 91% premium, in a $2.9 billion take-private deal. The founding family will retain 50% ownership; closing is expected in Q4 2026.

check_boxKey Events · M&A and Partnerships · UTZ

• Definitive Merger Agreement Signed

  Intersnack Group will acquire all outstanding Class A common stock for $14.25 per share in cash, a 91% premium to the July 20, 2026 closing price, implying an enterprise value of approximately $2.9 billion.

• Transaction Financing and Structure

  Financing includes $920 million cash from Intersnack, a $1.1 billion term loan, a $250 million ABL facility, rollover equity by the Rice and Lissette Family, and a $44 million tax receivable agreement settlement. Post-close, Utz will be privately held, 50% owned by the Rice and Lissette Family and 50% by Intersnack.

• Shareholder Approval and Voting Commitments

  The Rice and Lissette Family entities, holding approximately 42% of Utz's common stock, have committed to vote in favor of the transaction. Closing requires approval by a majority of outstanding common stock and a majority of disinterested stockholders.

• Expected Closing and Delisting

  The transaction is expected to close in the fourth quarter of 2026, subject to regulatory approvals and other customary conditions. Upon closing, Utz common stock will be delisted from the NYSE.

auto_awesomeAnalysis · UTZ · Manufacturing

A definitive agreement will see Intersnack Group acquire Utz Brands for $14.25 per share in cash—a 91% premium to the last closing price. The all-cash transaction carries an enterprise value of approximately $2.9 billion and takes the company private, with the founding Rice and Lissette family retaining a 50% stake alongside Intersnack. Backed by committed financing and a voting agreement from family entities controlling 42% of the common stock, the deal is expected to close in Q4 2026. This is a thesis-altering event: shareholders receive immediate, certain value at a substantial premium, while the company gains access to Intersnack's global resources to accelerate growth. The transaction follows a special committee review and unanimous board approval, signaling strong governance. The cancellation of the Q2 earnings call underscores the deal's finality.