The deal included Pop Notch’s trademark, brand name and machinery, with all assets transferred to Devon-based producer Portlebay Popcorn’s production premises.
Tayto announced the majority acquisition of a 75% stake in Portlebay last year, which it described as a strategic expansion of the company’s snack manufacturing capabilities.
‘Phase of planned growth’
Commenting on the acquisition, chief executive Paul Allen said: “We are currently going through a phase of planned growth in the company and this acquisition of a bundle of assets from Pop Notch is one of several recent purchases for us. As we already own a popcorn business, this was a natural fit.
“We are constantly looking at ways to expand and to secure the group’s long-term future. The past few years have brought a lot of uncertainty and some challenges to the market, so being adaptable and able to develop through a variety of channels is essential for the sustainability of our business.”
Operating from its headquarters in Co Armagh, Tayto manufactures five million bags of crisps a day across six sites in the UK. It owns the Golden Wonder, Mr Porky, REAL Crisps and Jonathan Crisp brands.
Alongside its stake in Portlebay, Tayto acquired roasted nuts and pork scratchings maker Tavern Snacks. Tavern’s production was moved to Tayto’s Northern Ireland facility once the acquisition was completed.
There have been a number of acquisitions by food and drink manufactures over the past month.
Earlier this month, KP Snacks agreed to acquire premium crisp brand Tyrrells from US confectionery giant The Hershey Company for an undisclosed sum, less than a year after owner Amplify Snacks Brands' sale to the chocolate-maker.
Meanwhile, Biscuit International bought Northumbrian Fine Foods (NFF) from CriSeren Foods in a move designed to boost business for both processors in gluten-free and milk-free biscuits.