Tyrrells snapped up in £300M deal
Premium crisp manufacturer Tyrrells has been snapped up by Amplify Snack Brands for £300M, with the deal expected to be completed by the end of September.
Investcorp – which sold Tyrrells to Amplify – will receive about £287M directly from the sale.
President and ceo of Amplify Tom Ennis said: “Together, Amplify and Tyrrells will partner to create a truly unique international better-for-you snack food leader that can continue to drive robust future revenue and earnings growth.
“We believe that the combination with Tyrrells will create significant long-term value for all of our stakeholders.”
Investcorp bought Tyrrells for £100M in August 2013. Tyrrells’ sale to Amplify means Investcorp trebled its investment over the past three years.
“Tyrrells is a great British success story which we’ve been delighted to play a part in,” said Investcorp md Carsten Hagenbucher.