Crisps and snacks business Tyrrells is now under the ownership of alternative investment products manager Investcorp.
Private equity firm Langholm Capital, which has a focus on the consumer markets, has exited its involvement in the business following a five-year partnership.
Set up in Herefordshire in 2002 by Will Chase, Tyrrells produces potato and vegetable crisps and generated £100 million or retail sales during last year.
Back in 2008, London-based investor Langholm Capital acquired a majority stake in Tyrrells for £30 million, landing founder Chase a big payday which he used to set up Chase Vodka.
David Milner, chief executive of Tyrrells, comments, ‘Investcorp’s wealth of experience in supporting premium businesses executing their ambitious growth strategies will be invaluable.
‘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 Tyrells Court Farm accelerate our growth momentum.’
More on Langholm Capital:
- Langholm supports Purity Soft Drinks MBI
- Bart Spices in MBO
- William Chase ‘divorces’ Tyrrells Crisps
Since taking on private equity backing in 2008, Tyrrells has grown its international distribution channels and is now present in markets including Germany, France, the Netherlands and the US – which counts for 20 per net of its total turnover.
Carsten Hagenbucher, principal in Investcorp’s European corporate investments team, says, ‘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.’
New backer Investcorp says that the acquisition of Tyrrells marks its busiest period in its 30-year European history following investments in Georg Jensen and Hydrasun.