Salty snack company Utz going private in deal with German manufacturer

Potato chip manufacturer Utz Brands Inc. is going private, with German company Intersnack Group buying all of the salty snack company’s public stock.

Upon the closing of the transaction, Utz will become a private company, with the Rice and Lissette Family Entities and Intersnack Group each owning 50% of Utz.

Intersnack Group will acquire all outstanding shares of Class A Common Stock of Utz for $14.25 per share in cash — a premium of approximately 91% over the July closing price and an enterprise value of approximately $2.9 billion, according to the release.

Intersnack Group is a family-founded, privately owned, multinational snack company. Starting as a German potato chip producer in 1968, Intersnack Group has grown to become a leading snack manufacturer in Europe and Oceania.

“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,” Utz CEO Howard Friedman said in the release. “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 transaction is expected to close in the fourth quarter of 2026.

“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, Intersnack Group executive chair.

“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 partner and build on Utz’s strong foundation and help shape the future of snacking in North America.”