Utz, Intersnack Group enter share agreement

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Utz, Intersnack Group enter share agreement

21 Jul 2026

Maddie Lambert

Maddie Lambert is a copywriter and editor from Joplin, MO. She graduated from Missouri Southern State University with a Bachelor of Arts in English – literary studies. When she’s not poring over the magazine or lost in the pages of a new novel, you can find Maddie exploring her local bookstores, spending time with her husband, or sharing her latest literary discoveries with fellow book enthusiasts.

HANOVER, PA — Utz Brands, parent company to salty snack brands including Zapp’s and Boulder Canyon, and Intersnack Group GmbH & Co., a leading multi-national savory snack manufacturer, entered into a definitive agreement in which Intersnack Group will acquire all outstanding shares of Class A Common Stock of Utz for $14.25 per share in cash. The price represents a premium of approximately 91% over the July 20, 2026, closing price and an enterprise value of approximately $2.9 billion. Upon closing the transaction, Utz will become a private company with the Rice and Lissette Family, Utz’s founding family, and Intersnack Group each owning 50% of Utz.

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

Intersnack has built an extensive product portfolio across multiple snack categories, both organically and through acquisitions and key partnerships.

“Intersnack shares our vision for Utz, and their marketing, manufacturing and technology capabilities will be invaluable as we invest in our brands and accelerate our strategy.” — Howard Friedman | CEO | Utz Brands

“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 US snacking market, where we do not currently have a presence,” said Johan van Winkel, executive chair of Intersnack Group. “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.”

A “Special Committee” of Utz’s independent and disinterested directors was formed in response to interest expressed by Intersnack to acquire a significant portion of Utz Brands through a private transaction. The committee evaluated the transaction — and other potential alternatives — to determine which would bring immediate value to stockholders.

“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.”

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