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08/2013

TYRRELLS acquired by INVESTCORP

UNITED KINGDOM Food Processing / Food Products EV 100M - 350M GBP

Context

Investcorp has acquired Tyrrells Potato Crisps from Langholm Capital for �100 million. The transaction provides an exit for Langholm, which had backed the founder William Chase in 2008. Investcorp's investment thesis focuses on accelerating Tyrrells' international expansion. While the brand is well-established in the UK, Investcorp identifies significant white space in Europe and North America for premium "English" snacks. The plan involves increasing distribution channels abroad and potentially exploring bolt-on acquisitions to broaden the product range.

TYRRELLS, which reported an EBITDA margin of in 2013, is valued in this transaction at an EV/EBITDA multiple of , a level to compare with 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

Multiples

EV / Revenue

EV / EBITDA

EV / EBIT

Historical Financials (GBP)

Year
Rev
EBITDA
EBIT
2013
2012

Other operations with TYRRELLS

List of similar M&A transactions (Date, Acquirer, Target, Country, Sub-sector)
DateAcquirerTargetCountrySector
09/2016AMPLIFY SNACK BRANDSTYRRELLSUNITED KINGDOMFood Products

REFERENCES

Valuation range: EV 100M - 350M GBP

Revenue range: 50M - 100M GBP

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of TYRRELLS by INVESTCORP are reserved for mynth community members. Register for free to unlock full data.

Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.

Press release: view release

Acquirer: investcorp