Utz Brands, Inc.

Utz Brands, Inc. has entered into a definitive agreement to be acquired by Intersnack Group GmbH & Co. KG. Intersnack will acquire all outstanding Class A Common Stock for $14.25 per share in cash, representing a significant premium of approximately 91% over the July 20, 2026 closing price. The transaction values Utz at approximately $2.9 billion and will take the company private, with the Rice and Lissette Family and Intersnack Group each owning 50%. The deal is expected to close in the fourth quarter of 2026, pending regulatory and shareholder approvals.

Utz Brands, Inc. announced the resignation of Mitchell Arends, EVP, Chief Integrated Supply Chain Officer and principal operating officer, effective June 19, 2026. Mr. Arends is departing to take a role at another publicly traded company, and his resignation was not due to any disagreements with the company. Following his departure, CEO Howard Friedman will assume the additional role of principal operating officer, with the Executive Leadership Team taking over Integrated Supply Chain functions. The company also reaffirmed its financial outlook for fiscal year 2026.

Utz Brands reported a net loss of $(1.7) million for the first quarter of 2026, a significant decline from a net income of $7.5 million in the prior year period, despite a 2.6% increase in net sales to $361.3 million. The company also disclosed that its goodwill is at risk of impairment due to a decrease in share price and market capitalization below book value. Additionally, Utz Brands authorized a $50 million share repurchase program and is proceeding with the sale of certain assets and the closure of a manufacturing facility.

Utz Brands, Inc. reported its first fiscal quarter 2026 financial results, with Net Sales increasing 2.6% to $361.3 million and Adjusted EBITDA growing 6.2% to $47.9 million. The company experienced a Net Loss of $(2.4) million, while Adjusted Net Income decreased 4.5% to $21.3 million. Management highlighted solid Branded Salty Snacks growth of 5.2%, significant improvement in cash metrics, and a reduced Net Leverage Ratio to 3.6x. Utz Brands also reaffirmed all aspects of its full-year 2026 guidance.