Snack maker Utz Brands — which [owns Zapp's](https://www.utzsnacks.com/pages/ourbrands?srsltid=AfmBOooB-cWZFFt_pzSfdgKtB20Jb8HpIncRjlEhI3ZBxYkzR_XR6gc8) and several other brands, including its eponymous chip line — [has agreed](https://www.wsj.com/business/deals/utz-brands-to-be-taken-private-for-about-2-9billion-b6e8df8d) to be taken private by Germany's Intersnack Group in a deal worth about $2.9 billion.
Intersnack will pay $14.25 a share in cash, a premium of more than 90% to Utz's last closing price of $7.45.
Shares of the chip maker surged early Tuesday, jumping as much as 89% at one point.
The deal will leave the founding Rice and Lissette family with ownership of half of Utz.
