Overview
- A deal announced Tuesday sets the price at $14.25 per share, valuing Utz at about $2.9 billion and representing roughly a 91% premium to the prior close.
- When the transaction closes, expected in Q4 2026 if approved, Utz will be taken private with ownership split roughly 50/50 between Intersnack and the Rice and Lissette family entities and Dylan Lissette slated to serve as executive chair.
- Intersnack will finance the deal with about $920 million in cash, a $1.1 billion new term loan, a $250 million asset-based lending facility, and rollover and reinvestment from the founding families.
- Utz shares jumped about 89% on the announcement and the company has canceled its planned Q2 earnings call, with Utz common stock to be delisted after the closing.
- The acquisition gives Intersnack immediate access to Utz’s roughly $1.4 billion U.S. snack business and local operations in Hanover, Pennsylvania, and regulators’ review plus the shareholder vote will determine whether the companies can move forward on expansion plans.