Utz Brands Inc. shares surged nearly 90% on Tuesday following the announcement of a $2.9 billion take-private deal with Intersnack Group. The acquisition will see Intersnack buy all outstanding shares of Utz’s Class A common stock for $14.25 per share in cash, representing a premium of approximately 91% over the stock's closing price on July 20, 2026.
Key Details
The deal marks a significant shift for Utz, which has struggled with a nearly 47% decline in stock value over the past year. Once the transaction is finalized, Utz will be delisted from the New York Stock Exchange. The acquisition is expected to close in the fourth quarter of 2026, pending regulatory approvals and shareholder votes. The Rice and Lissette Family, who currently own a substantial portion of Utz, have agreed to support the deal by voting their shares in favor, representing about 42% of the company’s outstanding common stock.
Funding for the acquisition will include approximately $920 million in cash from Intersnack, as well as borrowings under a new $1.1 billion term loan facility and a $250 million asset-based lending facility. The transaction aims to enhance Utz's growth potential in the U.S. snack market, where Intersnack seeks to establish a foothold.
Background
Utz is scheduled to report its earnings on August 5, 2026, with analysts estimating earnings per share of 18 cents and revenue of $374.53 million, up from $366.70 million year-over-year. The stock currently holds a Buy rating with an average price target of $9.33, although some analysts have adjusted their targets downward recently.
The significant premium offered in the buyout could influence investor sentiment in the consumer packaged goods sector, particularly for companies considering similar strategic moves. The deal is likely to draw attention to valuation trends in the snack food industry. Watch for Utz's upcoming earnings report on August 5, which may provide further insights into the company's financial health before the acquisition closes.