Tyrrells Crisps acquired by US firm Amplify in £300m deal

Tyrrells, the upmarket UK crisp business, has been acquired for £300m by US snack company, Amplify.

Founded in 2002 at Tyrrells Court Farm, Herefordshire, Tyrrells is a manufacturer of hand-cooked potato and vegetable crisps, popcorn and other savoury snacks.

Tyrrells has expanded its product offering into other snack categories, including popcorn, tortilla chips and vegetable crisps.

Investcorp, a Bahrain-based investor provider and manager of alternative investment products, purchased Tyrrells in August 2013 for £100m. Investcorp will make three times its investment on the new deal with the American maker of SkinnyPop popcorn.

During Investcorp’s ownership, Tyrrells saw sales and EBITDA more than doubled and employee numbers grew by over 70% globally, 30% of which were new employee positions created in the UK.

International markets now account for close to 40% of sales compared to 20% three years ago.

Carsten Hagenbucher, managing director in Investcorp’s European Corporate Investment team, said: “Tyrrells is a great British success story which we’ve been delighted to play a part in.

“Three years ago we saw the opportunity to export a fantastic domestic brand and that has been our focus, through two transformative acquisitions - both of which were proprietary deals - and by driving growth in the UK and many international markets. We wish David and his team the best of luck in this new chapter.”

David Milner, Chief Executive of Tyrrells, added: “From the outset when Tyrrells was acquired by Investcorp we projected ambitious growth strategies and that’s exactly what we have delivered. It has been a hugely successful partnership resulting in a business which is in great shape for further international expansion.”

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