The British UK premium snacks firm Tyrrells has been snapped up by private equity firm Investcorp in a £100m deal.
The firm, founded 11 years ago by farmer Will Chase, will continue to be led by current chief executive David Milner.
Chase will not benefit from yesterday’s sale as he sold a majority stake in the business to Langholm Capital for £40m in 2008, and sold off his remaining shares in 2010.
Tyrrells, which generates over £100m in annual sales, has expanded rapidly from its original British roots and now sells its snacks across Europe and the US. It also makes popcorn in flavours such as sticky toffee pudding and bar snacks including pork crackling.
The company recently announced a new summer cricket flavour named ‘Cricket Tea Crisps’ to celebrate the England cricket teams efforts in the Ashes.
Investcorp principal Carsten Hagenbucher said it planned to accelerate Tyrrells’ international expansion. “The premium snacks market is very dynamic and attractive. Tyrrells’ offering is unique,” he added.