Intersnack Group, a multinational savory snack manufacturer, is purchasing half of salty snacks manufacturer Utz Brands for $2.9 billion and taking the company private, the two snack giants announced Monday.
Hanover, Pa.-based Utz announced that it has agreed to sell all outstanding shares of Class A Common Stock to the Düsseldorf, Germany-based Intersnack for $14.24 per share in cash.
The price represents a premium of roughly 91% over Utz’s closing price on July 20, 2026, the US company said.
The transaction will give half ownership to Intersnack Group and half to Utz Group owners, the Rice and Lissette Family Entities.
The transaction is expected to close in the fourth quarter of 2026, at which time the publicly-traded Utz, maker of Utz Chips, On The Border Chips & Dips, Zapp’s and Boulder Canyon Chips, will be removed from the New York Stock Exchange.
Intersnack: a global snack leader
Intersnack is a top snacking company in Europe and Oceania, and has grown rapidly over the last decade, both organically and through acquisition.
The company employs 14,500 people across the globe and operates in 31 countries.
Intersnack generated $5 billion in 2025 through the sale of potato chips, nuts, baked snacks, pretzels and more.
The snack giant has completed a range of acquisitions over the last decade, most recently purchasing UK-based Whole Earth Foods, which primarily produces peanut butter products, from Ecotone Group in 2024.
“Whole Earth is an excellent addition to our business. With our extensive experience in the global sourcing and processing of nuts and the production of nut butter products, we are well equipped to take Whole Earth Foods forward. It also enriches our European portfolio of popular brands and meets our commitment to sustainable business,” said Maarten Leerdam, former CEO and now Chairman of Intersnack Group.
A new era for Utz
Utz CEO Howard Friedman was enthusiastic about the new partnership, noting that he has gotten to know the Intersnack team and is “impressed by Intersnack’s deep understanding of the snacking landscape, experience growing distinctive and long-standing brands and strength in innovation.”
“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.
The new partnership comes as Utz’s stock price has faced several years of declines, dropping from $27.42 per share in May of 2021 to under $7 in June of 2026.
The stock value nearly doubled following the Monday announcement, jumping from $7.45 per share to $14.25.
Utz Board of Directors Chairman Dylan Lissette called Intersnack “a like-minded partner with similar family heritage.”
“They understand the importance of investing for the long term and the value of staying close to consumers and communities,” Lissette said. “We look forward to benefitting from Intersnack’s experience and broad resources as we drive our next century of success for the benefit of our customers, our associates, our suppliers and the communities we serve.”
Unanimous vote from Utz
The decision to join forces was an easy one for Utz, which formed a special committee of independent and disinterested directors to analyze the deal, the company said.
The independent committee determined that the merger would be a benefit to shareholders, resulting in a unanimous vote in favor of the deal.
“This transaction is a great outcome for Class A common stockholders,” said Craig D. Steeneck, chair of the special committee. “Following Intersnack’s approach, the special committee thoroughly reviewed the proposal with the assistance of its advisors and determined that this premium, all-cash transaction provides immediate and compelling value for Class A common stockholders.”
