TYRRELLS acquired by AMPLIFY SNACK BRANDS
Context
Investcorp has agreed to sell Tyrrells to the US-based Amplify Snack Brands. This exit marks the culmination of a highly successful three-year holding period for Investcorp, during which sales and EBITDA more than doubled. The value creation strategy focused on aggressive international expansion (international sales grew from 20% to 40% of total) and product diversification beyond potato crisps into popcorn and vegetable chips. For Amplify, buying Tyrrells instantly provides a global platform to launch its own US brands (like SkinnyPop) into Europe and Australia.
It is worth noting that the fund Investcorp took control of Tyrrells through an LBO in 2013.
TYRRELLS, which reported an EBITDA margin of in 2016, is valued in this transaction at an EV/EBITDA multiple of , representing a to the average currently observed in the AgriFood sector (10.7x).
-> Deep-dive in AgriFood market trends
Target
Founded in 2002 at Tyrrells Court Farm, Herefordshire, Tyrrells is a premium manufacturer of hand-cooked potato and vegetable crisps. Known for its distinctively English brand identity and high-quality ingredients, the company expanded its portfolio to include popcorn and savoury nibbles.
Ent. Value
Equity Value
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EV / Revenue
EV / EBITDA
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Historical Financials (GBP)
Other operations with TYRRELLS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 08/2013 | INVESTCORP | TYRRELLS | UNITED KINGDOM | Food Products |
REFERENCES
Valuation range: EV 300M - 700M GBP
Revenue range: 100M - 200M GBP
EBITDA range: 5M - 25M GBP
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.