US food firm acquires crisp-maker Tyrrells in £300m deal

Tyrrells, the English maker of hand-cooked crisps, has been acquired by US food firm Amplify Snack Brands in a deal worth £300 million.

The upmarket crisp maker, which was founded on a Herefordshire farm in 2002, has seen revenue soar since it was taken over by Bahrain-based investment company Investcorp three years ago.

International expansion

Tyrrells, which has expanded rapidly internationally, has raked in £84 million in revenue over the past 12 months. Global revenue from markets such as Germany and Australia now account for 40 per cent of its sales.

The deal will see chief executive David Milner stay on as Amplify's international president.

Mr Milner said: “This is a terrific deal for Tyrrells and the team who have delivered a stellar performance over the last few years.

“As a small, UK farm-based business it is a tremendous achievement to be now part of a US publicly traded company with the international reach to make Tyrrells a global brand”.

Amplify chief executive Tom Ennis said: "Together we plan to capitalise on each company's market leadership and sales force capabilities to drive higher revenue growth than either company could independently accomplish."