Utz Brands has entered into a definitive agreement under which Intersnack Group will acquire all outstanding shares of the company's Class A common stock for $14.25 per share in cash, valuing the transaction at an enterprise value of approximately $2.9 billion.

The purchase price represents a premium of approximately 91% over Utz's closing share price on July 20, 2026. After the transaction closes, Utz will become a privately held company jointly owned by Intersnack Group and the Rice and Lissette Family, with each holding a 50% ownership stake.

Utz’s product offerings include the brands Utz, Boulder Canyon, On The Border, and Zapp’s, along with the regional or category-specific brands TGI Fridays and Golden Flake.

Howard Friedman, chief executive officer of Utz, said Intersnack's experience in growing established brands and its manufacturing and innovation capabilities will support continued investment in Utz's portfolio and long-term strategy.

Johan van Winkel, Executive Chairman of Intersnack Group said, “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. We have long admired Utz’s brands, its heritage and the strength of its team. Together with the Rice and Lissette families, we see great potential to build on the company’s strong foundations and to work together to drive its successful development in the U.S. market.”