M&A · Industrials · Miscellaneous Food Preparations & Kindred Products
Intersnack Group GmbH & Co. KG to acquire Utz Brands, Inc.
Announced Jul 20, 2026 · Pending Aug 24, 2026
Deal value$2.90BEV $2.90B
Premium91.0%To unaffected price
EV / Adj. EBITDA23.2x2.0x EV / Revenue
ConsiderationAll cash$14.25 per share
Transaction
- Acquirer
- Intersnack Group GmbH & Co. KG
- Target
- Utz Brands, Inc. (UTZ)
- Buyer type
- Strategic
- Offer price per share
- $14.25
- Enterprise value
- $2.90B
- Status
- Pending Aug 24, 2026
Deal protections
- Break fee (target pays)
- $50.0M · 1.7%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · BofA Securities
Advisors
- To the acquirer
- BofA Securities
- To the target
- Citigroup, RBC Capital Markets
Sector context · Industrials
- Comparable deals
- 97 in the prior 24 months
- Premium
- 91.0% vs. 34.0% sector median
- EV / Adj. EBITDA
- 23.2x vs. 11.3x sector median
- Break fee
- 1.7% vs. 2.8% sector median
Timeline
- AnnouncedJul 20, 2026
- Proxy filedAug 24, 2026
- Definitive proxyOct 2, 2026
- Shareholder votePending
- ClosedPending
Valuation · fairness opinions
Trading comparables$5.70$9.00
Precedent transactions$10.15$13.15
Discounted cash flow$10.60$14.80
Future share price$7.85$11.45
Offer $14.25
Implied value per Utz Brands, Inc. share by analysis, from Citigroup.