Tayto takes control of Portlebay
Crisp manufacturer Tayto Group has bought a majority stake in five-year-old Portlebay Popcorn, which went into administration at the end of January.
Northern Ireland group Tayto acquired a 75% stake in the Devonshire premium popcorn maker with Neil Adams and Jonty White, two of Portlebay’s founding shareholders, in a pre-pack deal for an undisclosed price.
Adams and White, former directors of Burts Chips, will continue to run the business independently from Tayto, according to the Golden Wonder owner’s chief executive Paul Allen.
Wasabi & Sweet Ginger, Crispy Bacon & Maple Syrup, Sweet Thai Sriracha and Lemon Sherbert are among some of the unusual flavours in the Portlebay range.
Adams said: “Competing with the large brands has always presented us with challenges, so this investment by Tayto provides us with a real opportunity. We are a small company and having access to their connections, distribution network and know-how gives us a real chance to expand.”
Allen said: “We are really impressed with the innovation and enthusiasm of the Portlebay team and they make a first-class, premium product.
“While they will continue to run the business independently from Tayto, we shall of course provide access to all the wider Group capabilities and we are looking forward to seeing significant growth.”
Tayto’s portfolio also includes Mr Porky, REAL Crisps Jonathan Crisp and Tayto.