Mergers & Acquisitions
Utz Brands agrees to $2.9 billion Intersnack take-private deal
Germany's Intersnack Group agreed to acquire Utz Brands for $14.25 per share in cash, valuing the transaction at approximately $2.9 billion including debt. Utz shares surged about 85% following the announcement.
AS1 News
Utz Brands agreed to be acquired by Germany's Intersnack Group for $14.25 per share in cash, in a transaction valued at approximately $2.9 billion including debt.
The cash offer represented a roughly 91% premium to Utz's previous closing price. Utz shares surged about 85% after the announcement, making the stock one of the day's largest U.S. single-stock movers.
The agreement is significant for the consumer sector because it pairs Utz with another major snack-food company and would take the publicly traded business private. The size of the premium and the sharp share-price response also highlight the immediate value investors assigned to the agreed consideration.
The acquisition agreement and its headline financial terms are confirmed. The supplied event package does not specify the transaction's expected closing date or other completion details, so the timing and ultimate completion remain uncertain.
The agreed cash offer values Utz at approximately $2.9 billion including debt and carries a roughly 91% premium to its previous close. Utz shares rose about 85%, producing one of the day's largest U.S. single-stock moves and drawing attention to consumer-sector dealmaking.