** Shares of potato-chips and pretzels maker Utz Brands UTZ.N up 87% at $13.95 premarket

** Co to be acquired by Germany's Intersnack Group in a deal valued at about $2.9 billion, including debt

** Intersnack, a private family-founded snack company, will buy all outstanding shares of Utz Brands for $14.25 per share in cash, representing a premium of 91.3% to Utz's last closing price

** Following the transaction, UTZ will become a privately held company jointly owned by Intersnack And The Rice And Lissette Family, descendants of Utz's founding family

** Deal will be financed through about $920 million of cash from Intersnack, a $1.1 billion term loan facility, $250 million asset-based lending facility, and rollover equity from the Rice and Lissette family

** After closing the transaction, Dylan Lissette will become executive chair of Utz

** Deal is expected to close in the fourth quarter of 2026

** As of last close, stock fell 28% YTD