Germany-based snack company Intersnack Group has agreed to acquire US salty snacks maker UTZ Brands in a deal valued at about $2.9 billion, according to multiple reports. The transaction is described as an acquisition of the US peer by the European company, with the reported value given on an enterprise-value basis. The sources do not provide additional deal terms, such as payment structure, expected closing timeline, or regulatory approvals, in the information available here. Intersnack, which operates in the European snack market, is presented as the buyer, while UTZ Brands is identified as the target. The reports focus on the headline valuation and the cross-border nature of the transaction, with no further operational details included. The agreement indicates a consolidation move in the snacks sector, bringing together brands and production footprints across the US and Europe under Intersnack’s ownership, subject to standard transaction steps before completion.