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FinanceUtz Brands surges 89% on $2.9 billion takeover by Intersnack Group
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Utz Brands Inc. (NYSE: UTZ) shares skyrocketed up to 89% in intraday trading on July 21, 2026, following the announcement of a definitive merger agreement with Germany-based Intersnack Group valued at $2.9 billion. Under the deal, Utz shareholders will receive $14.25 per share, a 91% premium over the previous close of $7.45. Upon closing, expected in Q4 2026, Utz will become a private entity jointly owned by Intersnack and the founding Rice and Lissette families, who have agreed to vote in favor with their 42% stake. Chairman Dylan Lissette will become Executive Chairman post-transaction. The company canceled its Q2 earnings call scheduled for August 5, 2026. Utz reported a net loss of $2.4 million in Q1 2026, compared to a $5.7 million profit a year earlier. Hedge fund holdings in Utz declined to 27 funds from 31 in the prior quarter, with total holdings falling 7% to $133.97 million.
Source report
By: Angelica Ballesteros Read Time: 3 minutes
Stock Soars on Premium Offer
Utz Brands Inc. (NYSE: UTZ) shares surged as much as 89% in intraday trading on Tuesday, reaching $14.10 per share, following the announcement of a $2.9 billion merger agreement with Germany-based Intersnack Group.
The company entered into a definitive agreement for Intersnack to acquire all outstanding shares at $14.25 per share — representing a 91% premium over Monday's closing price of $7.45.
While the premium drove significant investor demand, shares traded slightly below the offer price, reflecting market expectations regarding the timeline and regulatory approvals required to close the transaction.
Transaction Details
Upon closing, Utz Brands will become a private entity, jointly and equally owned by Intersnack and the company's founders, the Rice and Lissette Family.
Chairman Dylan Lissette commented:
"We believe that Intersnack is a like-minded partner with similar family heritage and a deep appreciation of the power of beloved brands. They understand the importance of investing for the long term and the value of staying close to consumers and communities. We look forward to benefitting from Intersnack's experience and broad resources as we drive our next century of success."
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions, including shareholder approval. The Rice and Lissette Family, representing 42% of the stake, has already agreed to vote in favor of the deal.
Following the transaction, Dylan Lissette will assume the role of Executive Chairman.
Earnings Call Canceled
In light of the pending transaction, Utz Brands announced it will no longer hold its previously scheduled second-quarter earnings call on August 5, 2026.
The company reported a net loss of $2.4 million in the first quarter of 2026, compared to a net income of $5.7 million in the same period last year, driven by the absence of one-off gains recorded in the prior-year period.
Hedge Fund Activity
Investor sentiment weakened in the first quarter of 2026:
- 27 hedge funds held positions in Utz Brands as of Q1 2026, down from 31 in the prior quarter.
- The combined value of those holdings fell 7% to $133.97 million, from $144.5 million quarter-over-quarter.
Top Hedge Fund Holders (as of July 17, 2026)
| Rank | Fund | Value of Holdings | |------|------|------------------| | 1 | Balyasny Asset Management | $20.776 million | | 2 | Alyeska Investment Group | $20.26 million | | 3 | Two Sigma Advisors | $13.7 million |
This article originally appeared on Insider Monkey.
Source
Yahoo FinanceWestern
Part of this Story
Germany's Intersnack acquires US snacks maker Utz Brands for $2.9B