Utz Brands announces death of longtime leader Michael Rice

Hershey, Pennsylvania - Utz Brands, Inc., the snack manufacturer, announced on October 10 that Michael W. Rice, who had led the company for over 50 years, had passed away in Hershey. Rice, 84, joined Utz in 1968 after graduating from George Washington University Law School. He served as Executive Vice President from 1970, took on the roles of President and CEO in 1978, and became Chairman and CEO in 1992.

As the grandson of Utz founders Bill and Salie Utz, Rice began his career at the company at the age of 11, working summers unloading potato sacks. His leadership led Utz to expand beyond its initial base into new snack categories and markets. In 2012, Rice stepped down as CEO, becoming Executive Chairman, with his son-in-law, Dylan Lissette, taking over the daily operations.

He remained as Director and Chairman Emeritus until his retirement in August 2024. Rice continued to serve in an advisory capacity after his retirement. He was responsible for the establishment of the Rice Family Foundation in 2017, which supports education, health, and family well-being in Hanover communities. Utz announced plans to partner with Intersnack Group GmbH & Co. KG for a potential takeover in December 2024.

The Rice and Lissette families each own half of the company in this deal. The company stated that Rice's death does not affect the expected closure of the transaction in the fourth quarter of 2026.