UK crisp maker Tyrrells has acquired local rival Glennans, a maker of vegetable crisps.
Glennans, set up in 1986, sells its eponymous vegetable crisps to retailers including Tesco, Asda and Waitrose. It also makes crisps under contract for retailers and manufacturers.
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The deal, struck for an undisclosed sum, is Tyrrells’ first acquisition and the company said there were opportunities for Glennans to grow at home and abroad.
Tyrrells marketing director Oliver Rudgard told just-food: “Glennans has got fantastic expertise in vegetable crisps. The Glennans brand has got a lot of opportunity not only in the UK but also abroad.”
Vegetable crisps are around 10% of Tyrrells’ annual sales, which, in the year to 1 April, stood at GBP22.2m (US$34.4m), up 31% on the year.
“[Vegetable crisps] are growing incredibly strongly. People are looking for something a little bit different from the ordinary. [The deal] definitely strengthens our position in the marketplace.”
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By GlobalDataRudgard said a 150g packet of Tyrrells’ vegetable crisps sell at around GBP2.99 and insisted the product did appeal to consumers, even with shoppers looking more closely at what they spend.
“As people are finding it difficult to spend money on holidays or buying a new car, these are an affordable luxury,” he said.
Glennans already has a presence in France and Rudgard said there was an opportunity to grow the brand across the Channel. France is Tyrrells’ largest export market and its sales in the country are up 40% year-on-year, Rudgard said. He also claimed the US and Canada – two markets which Tyrrells has entered in recent months – could present an opportunity for Glennans.
