Germany's Intersnack to buy 50% stake in US snack maker Utz Brands

German snack maker Intersnack, known for brands including funny-frisch, Chio and Tyrrells, is moving into the US market with a plan to acquire a 50% stake in US snack company Utz Brands.

Intersnack, a subsidiary of German sugar producer Pfeifer & Langen, said on Tuesday it had offered $14.25 per share for the stake, nearly double Utz Brands' closing share price on the previous day.

If completed, the transaction would value Utz Brands at $2.9 billion. The remaining 50% stake would be held by descendants of the company's founder.

The deal would give Intersnack "a compelling opportunity" to enter the large and attractive US snack market, the company said.

Intersnack, a family-owned company, generated revenue of about €4.5 billion ($5.1 billion) last year but did not disclose its profit.

Besides Germany, Intersnack has a strong presence in markets including the United Kingdom, Australia and New Zealand, as well as other countries. The group employs 14,500 people worldwide.

Utz Brands, based in Hanover in the US state of Pennsylvania, sells a range of chips and popcorn products under brands including Utz, Golden Flake and Zapp's. The company reported revenue of $1.44 billion in 2025.