Utz Brands Inc stock (NYSE: UTZ) surged 89% on Tuesday and shocked the markets with its unprecedented rise. The spike was among the wildest developments the market saw lately, with early investors making unbelievable money in a short period. An investment literally came close to doubling in value and outperformed all the top equities by a wider margin. It went straight to the top-performing equities of the day and remained there throughout.

Just a month ago, on June 22, Utz Brands stock was trading at $6.85 and remained mostly unheard of. Fast-forward to July 22, it reached $14.06, which is a rise of approximately 105.26%. That’s massive gains in 30 days and has literally doubled investors’ money. Such instances of sharp spikes come by very rarely, and those who took an entry position just a month ago are enjoying the fruits of their trade.

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Why Did Utz Brands Stock Rise 89% and What’s Behind the Explosive Growth?

Utz Brands is a savory manufacturer and distributes popular snack items like potato chips, pretzels, tortilla chips, pork skins, and cheese balls, among others. Their snacks are placed in grocery, convenience, and warehouse stores and are mostly quick-buy products. Now, Utz Brands’ stock surged in value because Germany’s Intersnack Group announced it would take the company private in a deal valued at $2.9 billion in an all-cash offer of $14.25 per share.

Intersnack Group will purchase 50% of the company’s stake, and the remaining 50% will be retained by Utz Brands. The 50-50 joint partnership will be inked between Intersnack Group and UTZ’s founding Rice and Lissette family. Once the deal goes through, Utz Brands will delist from the New York Stock Exchange. The deal is expected to be signed during the fourth quarter of 2026. However, it is subject to customary closing conditions, including shareholder approval.