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The Economic Times

Family-owned companies have big appetites for US snack M&A

United States UTZ PepsiCo Mars Kellanova Pringles

NEW YORK - Family-owned food companies are stocking up on U.S. snack companies, which are warming to the idea of private backers - many of them overseas - that can help them weather the storm in the supermarket aisles.

Last week, Hanover, Pennsylvania-based potato chip maker Utz agreed to be taken private by Germany's Intersnack Group along with Utz's founding families. The nearly $3 billion transaction marks the first U.S. deal for Intersnack, a subsidiary of family-owned food conglomerate Pfeifer & Langen.

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