Bahrain-based private-equity firm Investcorp has snapped up UK crisp business Tyrrells from fellow buy-out house Langholm Capital for GBP100m.
Tyrrells said it was “set to generate in excess of GBP100m at retail sales value” this year, with 80% of its revenue coming from the UK.
Founded in 2002 and acquired by Langholm in 2008, Tyrrells has key export markets in western Europe and North America and has secured a presence in markets in Asia and Latin America.
Carsten Hagenbucher, principal in Investcorp’s European corporate investments team, said: “The premium snacks market is very dynamic and attractive. Tyrrells’ offering is unique and the business has an excellent position in the UK and a rapidly growing international footprint.”
David Milner, Tyrrells’ chief executive, added: “At Tyrrells, we have exciting plans to leverage our differentiated, high quality brand both at home as well as abroad. Investcorp is the ideal partner to help us all at Tyrrells Court Farm accelerate our growth momentum.”