UK: Langholm's auction of Tyrrells progressing
Tyrells "on the block"
The auction process is progressing and the deal is expected to net Langholm in the region of GBP100m (US$153.6m), insider sources told just-food today (26 June).
Langholm, which acquired Tyrrells for GBP40m in 2008, declined to comment on its plans for the upmarket snack maker.
According to reports, Belgium-based private-equity firm Verlinvest has emerged as a front runner to secure Tyrells. However, chairman Frédéric de Mevius told just-food the investment vehicle does not comment on "potential transactions".
Founded in 2002, Tyrrells has developed a solid footing in its domestic UK market and is currently working to expand export opportunities in Europe, Asia and North America. Click here to view just-food's interview with Tyrrells international chief Laurence Bass. Or, for just-food's speculative look at who could be in the running to acquire the crisp group, click here.
M&A levels remained relatively subdued in 2013. Growing private-equity interest and something of a shift in capital flows to mature markets have been significant trends shaping the M&A landscape. Whil...
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