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Tyrrells is being courted by food firms in the Far East

Tyrrells is being courted by food firms in the Far East

Tyrrells is being courted by food companies in the Far East who are interested in buying the luxury crisp brand, according to a report by FoodManufacture.co.uk.
 
The firm is apparently up for sale and the price being mooted is a high £100 million, although food industry commentator Julian Wild told FoodManufacture.co.uk that the figure is quite steep.
 
"Plenty of Far Eastern potential buyers would see a big opportunity for snacks - but £100 million is an aspirational price," he said to the website.
 
Analysts have suggested that Japanese snacks firm Calbee has indicated interest, however, other quarters have also been paying attention. American food giant Kellogg's is among these, as well as Blackpool-based confectionery business Tangerine, which also owns Butterkist popcorn.
 
Tyrrells is currently owned by the private equity firm Langholm Capital, which bought the Herefordshire-based crisp producer from potato farmer William Chase in a £40 million deal in 2008.
 
Since that acquisition, the company has expanded beyond the shores of Britain to locations such as India, China, the Unites States and Canada.
 
Langholm Capital, which is supported by consumer goods giant Unilever, is working with corporate financial advisers at McQueen to help conclude a deal for the company. The first round of bids are set to be tabled next month.
 
Firms in the Far East are seen as likely to make the acquisitions because of the growing popularity of snacks in the region, city analyst Click Black said to FoodManufacture.co.uk.
 
"A strong brand in a growth market is the stuff of premium ratings. Hence, we'd expect a lot of suitors - trade and financial, home and abroad to be dusting off files on Tyrrells."
 
Mr Chase began making Tyrrells crisps in 2002 at a time when his sales margins were being severely hampered by the supermarkets. They are particularly flavourful thanks to the use of particular varieties of potato, including Lady Rosetta, and the skins always being left on.
 
When he sold the operation to Langholm Capital in 2008, he used part of the proceeds to establish Chase potato vodka. It was later voted the Best Vodka at the San Francisco World Spirits Competition 2010.

 

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