Investcorp pays GBP 100 million to acquire Tyrrells Potato Crisps
Investcorp announced on Thursday that it entered into a definitive agreement with Langholm Capital to purchase Tyrrells Potato Crisps for GBP 100 million.
Carsten Hagenbucher, principal of Investcorp's European corporate investments group, said the acquisition of Tyrrell allows the company to strengthen its position to secure a strong position in the premium snacks market.
"Tyrrells' offering is unique and the business has an excellent position in the UK and a rapidly growing international footprint," he said. "We are excited about partnering with Tyrrells' entrepreneurial management team to accelerate the international expansion and to build a world-class business."
Apart from the UK, Tyrells also has presence in France, Germany, North America and The Netherlands. It reports an annual sales of GBP 100 million.
Tyrells CEO David Milner said that Investcorp will bring its vast experience to Tyrrells. "We have exciting plans to leverage our differentiated, high quality brand both at home as well as abroad," he said.
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