Tyrrells Potato Crisps, the UK premium crisp brand, has been sold to institutional investor Investcorp by its management, led by CEO David Milner and shareholder Langholm Capital. The deal values the business at £100m.
Investcorp is a leading provider and manager of alternative investment products with over $10.5bn of assets under management and operates at the top end of consumer goods’ segments with previous relationships including Tiffany and Gucci and more recently, Georg Jensen, the Scandinavian luxury brand.
Founded at Tyrrells Court Farm in 2002, Tyrrells is recognised for its premium quality hand cooked potato and vegetable crisps as well as an exciting range of other premium snacks including its gourmet popcorn.
Available across leading outlets in the UK, Tyrrells is well represented internationally, with markets such as Germany, France, the Netherlands and North America accounting for approximately 20% of its turnover. Under the current management team, the business has doubled in size in the last three years. The company employs 270 people and is set to generate sales in excess of £100m at retail sales value this year and just this month won the coveted Queen’s Award for Enterprise: International Trade.
Carsten Hagenbucher, principal in Investcorp’s European corporate investments team, said: “The premium snacks market is very dynamic and attractive. Tyrrells’ offering is differentiated and the business has an excellent position in the UK and a rapidly growing international footprint. We are excited about partnering with Tyrrells’ entrepreneurial management team to accelerate the international expansion and to build a world-class business.”
David Milner, Tyrrells CEO, said: “Investcorp’s wealth of experience in supporting premium businesses and executing ambitious growth strategies will be invaluable. I am delighted that Investcorp has invested in Tyrrells and excited to be working with them on the next phase of Tyrrells expansion.”