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Tyrrells sold for £100m

Tyrrells sold for £100m

Premium snacks and crisps manufacturer Tyrrells has been sold to the private equity investor, Investcorp, in a deal worth around £100 million.

The company has expanded from making crisps to a whole range of snacks in recent years, and was put up for sale by its private equity owner Langholm Capital earlier this year.

Investcorp, which has a great deal of experience in the running of premium brands, reportedly beat off competition from a number of trade and financial bidders.

The sale will see the company's chief executive David Milner stay on to lead the business, which has doubled its revenue over the course of the last three years under his leadership.

The company was founded by Will Chase, who first started it up as a side project at Tyrrells Court Farm in Hertfordshire in 2002.

Business has mainly been focused on the UK market over the years, but has since expanded to countries such as Russia, India and China.

Mr Milner has claimed that he wants the investment of the new backers to focus on markets in France, Germany, the US and the Netherlands, which he says are set to be key international markets.

He added his support for the the takeover by Investcorp, and that it would help to fulfil the company's ambitions for the future.

"Investcorp's wealth of experience in supporting premium businesses executing their ambitious growth strategies will be invaluable. At Tyrrells, we have exciting plans to leverage our differentiated, high quality brand both at home as well as abroad. Investcorp is the ideal partner to help us all at Tyrrells Court Farm accelerate our growth momentum," he said.

Tyrrells mainly targets the premium end of the crisp market, offering adventurous flavours such as sour cream and roasted garlic, and honey roast ham and cranberry.

But in recent years it has also managed to successfully launch vegetable crisps, becoming the only manufacturer to do so within Europe.

Other products include popcorn and tortilla chips.

 

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