Utz Brands agrees to $2.9 billion sale to Intersnack

Utz Brands reached an agreement to be acquired by Intersnack in a $2.9 billion deal that would take the company private. The transaction requires approval from U.S. regulators and a vote by Utz shareholders.

terms Intersnack will purchase all outstanding shares of Utz Brands at a premium to the company's recent trading price. The agreement includes standard closing conditions typical for transactions of this size.

steps Both companies will seek the necessary regulatory clearances in the coming months. Shareholders will vote on the proposal at a special meeting expected later this year.