MergerAug 5, 2026, 07:04 AM
Utz Brands to be Acquired for $14.25/Share; Q2 Net Loss $(16.0)M
AI Summary
Utz Brands, Inc. announced a definitive agreement to be acquired for $14.25 per share, a significant development for the company. This news comes as the company reported a net loss of $(16.0) million for the second quarter ended June 28, 2026, compared to a net income of $10.1 million in the prior year period. Net sales increased slightly to $371.8 million for the quarter. The company also noted a change in accounting policy for cost classification and ongoing facility closures.
Key Highlights
- Utz Brands entered a definitive agreement to be acquired for $14.25 per share.
- Net sales for the thirteen weeks ended June 28, 2026, were $371.8 million.
- Net loss for the thirteen weeks was $(16.0) million, or $(0.11) per share.
- Net loss for the twenty-six weeks was $(18.4) million, or $(0.13) per share.
- Cash and cash equivalents decreased to $58.6 million as of June 28, 2026.
- A $50 million share repurchase program was authorized but no shares repurchased.
- Company sold one property for $1.2 million; $9.1 million in assets held for sale.
- Grand Rapids manufacturing facility closure expected to be completed in H1 2027.
Price Impact
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