Tyrrells sold to Gulf investor for £100m
Crisp and snack producer Tyrrells has been bought for £100m by Bahrian-based private equity firm Investcorp from current owners Langholm Capital.
The Herefordshire firm’s chief executive David Milner said the investment would help accelerate Tyrrells’ pursuit of sales growth in export markets, which currently accounts for 20% of its total sales.
Investcorp, which also has offices in New York, London and Saudi Arabia, invests in a variety of sectors across the globe. Other recent acquisitions include Scandinavian luxury brand Georg Jensen and oil services provider Hydrasun.
This is the second time Tyrrells has changed hands since it was set up in 2002 by Herefordshire potato farmer Will Chase. It was purchased by Langholm in April 2008 for around £40m.
Tyrrells has grown into a major brand both in the UK and overseas but it continues to supply a large portion of independent delis and farm shops.
Still based at Tyrrells Court Farm, the company employs 270 people.