Utz Brands has inked an agreement with Intersnack Group that would take the U.S. snack manufacturer private in a transaction valued at approximately $2.9 billion. After the deal closes, Intersnack and the Rice and Lissette family, which founded Utz, will each own 50% of the company.

Intersnack, which currently operates in Europe, Asia, Australia and New Zealand but does not have a U.S. market presence, will gain access to the U.S. savory snack market. Company leaders at Utz say the partnership would give it access to Intersnack’s marketing, manufacturing, technology and product innovation resources. Utz brands include  On The Border Chips & Dips, Zapp’s and Boulder Canyon.

A closer look at the deal

Germany-based Intersnack will acquire all outstanding shares of Utz Class A common stock for $14.25 per share in cash. The offer represents a premium of approximately 91% over Utz’s closing share price on July 20, 2026. The acquisition will be financed through approximately $920 million in cash from Intersnack, new asset-based lending, and equity retained or reinvested by the Rice and Lissette family.

The Utz board unanimously approved the agreement following a review led by a special committee of independent directors. The committee considered the proposal and other potential alternatives before recommending the transaction. The Rice and Lissette family, board chairperson Dylan Lissette and certain affiliates have agreed to support the transaction with shares representing approximately 42% of Utz common stock.

The transaction is expected to close during the fourth quarter of 2026. Utz CEO Howard Friedman said Intersnack’s capabilities would support continued investment in the company’s brands and growth strategy.

Following the closing, Lissette will become executive chair of Utz. The company also said it would maintain its commitment to Hanover, Pa., where it is headquartered.

Why this matters for convenience services

• Consolidation among major snack manufacturers provides greater scale, distribution reach and production capabilities but can change pricing and access to popular products.
• Refreshment services operators may eventually see new products, packaging formats or brand programs supported by Intersnack’s resources.
• Access to new manufacturing and innovation resources could influence future product development across Utz’s convenience and foodservice portfolio. Once the deal closes later this year, be alert for product line changes and opportunities.