A premium snack business headquartered in the West Midlands has been bought by the maker of Hula Hoops for an undisclosed sum.
Founded in 2002 and located in Leominster, Herefordshire, Tyrrells is behind brands such as Tyrrells Potato Crisps and Tyrrells Poshcorn.
The business, which has been snapped up by KP Snacks, an Intersnack Group subsidiary, includes a head office and two manufacturing sites in the UK, along with US manufacturing capabilities, the Aroma Snacks business in Germany and Yarra Valley Snack Foods in Australia.
Tyrrells has been acquired from The Hershey Company and its subsidiaries. Hersheys acquired Tyrrells as part of its £1.6bn acquisition of Amplify Snack Brands in December 2017.
Malcolm Burns, managing director of Tyrrells International, said: “We are delighted that Tyrrells will be joining the KP Snacks family. I am incredibly proud of everything the Tyrrells team has achieved, starting in our farmhouse kitchen 16 years ago to become a brand loved internationally across more than 40 countries.
“We bring our award winning capabilities in hand cooked crisps and popcorn to join with the UK’s fastest growing scale snacks manufacturer.
“KP Snacks offers a great long term home for Tyrrells, Aroma and YVSF, providing a stable platform for growth over the coming years.
“Together, we will be able to offer our consumers and customers a total savoury snacking category portfolio.”
Mark Thorpe, chief executive of KP Snacks, added: “Tyrrells is an iconic brand with a big personality that has performed well both in the UK and international markets.
“Subject to completion of the deal, we look forward to welcoming our new Tyrrells colleagues into the business.
“This acquisition is a fantastic opportunity for us to add premium hand-cooked crisps to the KP business and a brand which further increases our capability in the sharing category.
“We can now offer our consumers and customers a total savoury snacking category portfolio.
“I am delighted that Tyrrells will be joining us to help maintain our momentum as the UK’s fastest growing scale snacks manufacturer and also enable us to continue to grow the brand across the international markets.”
The transaction is subject to approval by the regulatory authorities.
Maarten Leerdam, executive chairman of Intersnack Group, said: “The Intersnack board is delighted about this opportunity.
“It is an excellent strategic fit which not only strengthens our market coverage in the UK and France with the Tyrrells brand but also adds Aroma Snacks in Germany and their promising brand Lisa organic potato chips.
“Last but not least we extend our international footprint towards Australia via Yarra Valley Snacks with Tyrrells and the local better-for-you brands Thomas Chipman and Wholesome.”
Intersnack Group and KP Snacks were advised by Houlihan Lokey, EY and McDermott Will & Emery.
By Jon Robinson
Source: Insider Media
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