Utz, the Pa. snack maker, is going private again as part of $2.9 billion deal
Utz, which has been headquartered in Hanover, York County, for more than 100 years, went public in a merger six years ago.
Six years after going public, Utz Brands, the Pennsylvania producer of potato chips, pretzels, and other snacks, is set to become a private company again in a $2.9 billion deal with a German acquirer.
When the latest deal is done, Utz’s founding families, the Rices and Lissettes, will own 50% of the company, and Intersnack Group, a snack maker in Europe and the Pacific, will own the other half, according to a Tuesday news release.
“Intersnack shares our vision for Utz, and their marketing, manufacturing, and technology capabilities will be invaluable as we continue to invest in our brands,” Utz CEO Howard Friedman said in a statement.
Since 1921, Utz has produced its trademark chips and other snacks from Hanover, York County, about 120 miles west of Philadelphia. Today, Utz also makes Zapp’s kettle chips, Jax cheese curls, On The Border tortilla chips and dips, and TGI Fridays bagged snacks.
Utz still makes chips at its original Hanover plant, as well as at a network of facilities nationwide. Its snacks are distributed to grocery stories, convenience stores, and restaurants across the country.
The company generated about $1.4 billion in net sales in 2025, a slight increase from the prior year, according to earnings reports.
Intersnack plans to pay $14.25 per share in cash for all publicly traded Utz stock, according to the release, and to finance the deal with a combination of cash, financing, and rollover and reinvestment from the Rice and Lissette families. Utz stock surged after the deal was announced Tuesday.
“We have long admired Utz’s brands, its heritage and the strength of its team,” Johan van Winkel, executive chairman of Intersnack Group, said in a statement. “We see a tremendous opportunity to partner and build on Utz’s strong foundation and help shape the future of snacking in North America.”
» READ MORE: High-protein soft pretzels and soups are on the menu as Philly’s iconic food brands compete for GLP-1 consumers
The transaction is expected to close later this year, according to Tuesday’s news release. When it does, Dylan Lissette, who married into the Utz family, would become Utz executive chair.
The deal would take Utz off the New York Stock Exchange and make it no longer required to publicly disclose its earnings.
Utz became a publicly traded company in 2020 in a merger that valued the company at more than $1 billion.
By going private again, Utz would join its longtime competitor, Herr’s, a fellow family-owned snack-maker based in Nottingham, Chester County.
