Intersnack Group is a family-founded, privately-owned, multinational snack company. Starting as a German potato chip producer in 1968, Intersnack Group has grown to become a leading snack manufacturer in Europe and Oceania, it says. The company has built an extensive product portfolio across a multitude of snack categories, both organically and through acquisitions and key partnerships, by combining the benefits of international experience and local expertise, it adds.

“I have spent significant time with the Intersnack team and have been impressed by Intersnack’s deep understanding of the snacking landscape, experience growing distinctive and long-standing brands, and strength in innovation,” says Howard Friedman, CEO of Utz. “Intersnack shares our vision for Utz, and their marketing, manufacturing, and technology capabilities will be invaluable as we continue to invest in our brands and accelerate our strategy.”

“For more than 100 years, Utz has made snacks that are enjoyed by consumers across the U.S.,” says Dylan Lissette, chairperson of the Utz board of directors. “We are excited to partner with the accomplished Intersnack team. 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 for the benefit of our customers, our associates, our suppliers and the communities we serve.”

Lissette also expressed his excitement about the transaction in a LinkedIn post on his page today, saying "the Rice and Lissette Family is proud to continue its long history of growth and reinvestment in Utz by becoming an equal 50/50 owner of the company through Utz’s take-private agreement with Intersnack Group."

"Most importantly, going private doesn’t mean stepping back. When I assume the role of executive chairperson at the transaction’s close, I can confidently say it means we’re leaning in. Intersnack shares our same values, recognizes the importance of our teams, and is equally committed to preserving what makes Utz special. They will be our 50/50 partner dedicated to building Utz and our capabilities across the U.S. I am incredibly proud of the legacy we are protecting and supporting. Our family will be involved as ever in the future direction of the company, and we look forward to witnessing firsthand all that we will achieve," he promises. 

Johan van Winkel, executive chairman of Intersnack Group, says: “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 Family and Utz’s management and associates, we see a tremendous opportunity to partner and build on Utz’s strong foundation and help shape the future of snacking in North America. The combination of Intersnack’s and Utz’s extensive experience makes us confident that this partnership will deliver meaningful benefits to all of our stakeholders.”

A special committee of Utz independent and disinterested directors was formed in response to interest expressed by Intersnack Group to acquire a significant portion of the company through a going private transaction. The special committee and its independent financial and legal advisors evaluated the transaction and other potential alternatives that Utz could explore and determined that the transaction was the best alternative to deliver compelling, immediate, and certain value to Class A common stockholders. Upon the unanimous recommendation of the special committee, which led the review and negotiation of the transaction, Utz’s board of directors approved the transaction unanimously of all voting.

“This transaction is a great outcome for Class A common stockholders,” says Craig D. Steeneck, chair of the special committee. “Following Intersnack’s approach, the Special Committee thoroughly reviewed the proposal with the assistance of its advisors and determined that this premium, all-cash transaction provides immediate and compelling value for Class A common stockholders.”

The transaction is expected to close in the fourth quarter of 2026, subject to the satisfaction of regulatory and other conditions, including approval by the holders of a majority of the company’s outstanding common stock and the holders of a majority of the votes cast by disinterested stockholders of the company.

The Rice and Lissette Family, Dylan Lissette, and some of their affiliates have entered into an agreement pursuant to which they have committed to vote shares representing approximately 42% of Utz’s common stock in favor of the transaction.

Following the closing of the transaction, Dylan Lissette will assume the role of executive chair of Utz and Utz common stock will no longer be listed on the NYSE.

Utz Quality Foods is on the current Snack Food & Wholesale Bakery “Top 50 Snack & Bakery Companies” list. Click here to view the current “Top 50” rankings.