Utz Brands, Inc. Merger Agreement

Utz Brands, Inc. has entered into a merger agreement with Idaho USA, Inc., a subsidiary of Intersnack Group GmbH & Co. KG. The agreement outlines the terms of the merger, where Utz Brands will become an indirect wholly-owned subsidiary of Intersnack Group. The transaction is valued at $14.25 per share of Class A Common Stock, with an aggregate value of approximately $1.1 billion. The merger is subject to customary closing conditions, including stockholder approval and regulatory clearances. The agreement also includes provisions for non-solicitation, termination fees, and financing arrangements. Several related agreements, including an Implementation Agreement, Voting Agreement, and amendments to the Tax Receivable Agreement and LLC Operating Agreement, have been executed concurrently.