Investcorp gobbles up Tyrrell’s Crisps for £100m

The Bahrain-based firm will pay £100m to purchase the company from Langholm Capital, which acquired a majority stake in the business in 2008.

Investcorp will acquire UK snacks maker Tyrrell’s Potato Crisps from Langholm Capital for £100 million (€115 million, $151 million). 

Created in 2002 in Herefordshire, UK, Tyrrell’s sells hand-cooked potato and vegetable crisps across a number of European and North-American markets. London-based Langholm bought a majority stake in the business for around £30 million in 2008. It has since grown the company by increasing production capacity, adding new product ranges, opening up new distribution channels and kicking off the brand’s international expansion. 

Tyrrell's sales increased
from £13m in 2008
to £100m last year
 

Tyrrell, which has 270 employees, also makes popcorn, tortillas and other savoury nibbles, generating around £100 million in annual sales. The brand made the headlines in 2006 when Chase accused Tesco of selling Tyrrell’s products without permission and forced the supermarket chain to withdraw them from its shelves. 

Langholm is currently investing its Fund II, which closed on 2010 on $155 million. The fund counts Unilver’s pension scheme and Rabobank’s Private Equity as large investors. 

Investcorp, which is investing its $746 million Private Equity Fund, a 2007 vintage, has sealed six European buyouts since the start of 2012, including the acquisitions of Scandinavian luxury brand Georg Jensen and oil services business Hydrasun.