UK crisp maker Tyrrells has acquired Australian organic snacks company Yarra Valley Snack Foods.
Tyrrells, was already present in Australia, after launching at Australian supermarket Coles last April and had been rumoured to be setting up local production.
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In a statement to just-food provided to just-food today, David Milner, CEO of Tyrrells, said: "The acquisition will ultimately provide a local manufacturing base to support growing sales in Australia. It will also provide launch pad to accelerate growth of the brand in the Asia Pacific region."
At the beginning of the year a spokesperson for Tyrrells cooled reports it was mulling establishing production in Australia. "Launching production may be a consideration in the future, however there are no plans to do so at this current time," he said in January.
Today, Milner said: "We launched in Australia over a year ago and a result of our success in the market, it was a natural next step to investigate local manufacture and expansion options. The company reflects our brand values of premium quality and provenance – it’s a natural fit," he added.
The acquisition has been finalised and both companies are working to looking at what manufacturing requirements are needed at Yarra Valley Snack Foods to enable production of the Tyrrells range in Australia.
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By GlobalDataNo details were given regarding the size of the transaction.
