Under the deal structure, entities controlled by the Rice and Lissette families will retain a 50% stake, with Intersnack holding the remaining half. The acquisition will be financed through $920 million in cash from Intersnack, alongside a $1.1 billion term loan and a $250 million asset-based lending facility, with additional support from rollover equity and a $44 million tax-related settlement.
The move underscores a broader trend of European food companies expanding into the U.S. market for growth. Utz, which generated over $1.4 billion in revenue in 2025, brings a portfolio including pretzels, Zapp’s snacks, and On the Border chips. For Intersnack, which reported €4.5 billion in annual sales, the deal strengthens its global footprint beyond Europe and Australia, leveraging its strategy of scaling regional snack brands through an expanded production and distribution network.