Tyrells wants to become ‘a global brand’ following £300m acquisition by Amplify Snack Brands
UK-based crisp company Tyrells has been acquired by US food company Amplify Snack Brands, in a deal that will allow it to grow its footprint in North America.
Tyrells
The £300m deal comes at a time of growth for Tyrells, which also produces popcorn and other savoury snacks. The value of Tyrrells has tripled in the last three years since it was acquired by Investcorp for £100m in 2013. Sales have more than doubled and international markets, including Austria and Germany now account for close to 40 per cent of revenues compared to 20 per cent three years ago.
Via the acquisition, Tyrells is hoping to leverage the reach and experience of Amplify Snack Brands across North America, which is best known for its SkinnyPop brand.
David Milner, chief executive of Tyrrells, who will become president international of Amplify upon completion of the transaction said: “This is a terrific deal for Tyrrells and the team who have delivered a stellar performance over the last few years. As a small, UK farm-based business it is a tremendous achievement to be now part of a US publicly-traded company with the international reach to make Tyrrells a global brand”.
The brand was founded in 2002 at Tyrrells Court Farm, Herefordshire.