TYRRELLS acquired by INVESTCORP
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.
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Other operations with TYRRELLS
| Date | Acquirer | Target | Country | Sector |
|---|---|---|---|---|
| 09/2016 | AMPLIFY SNACK BRANDS | TYRRELLS | UNITED KINGDOM | Food Products |
REFERENCES
Valuation range: EV 100M - 350M GBP
Revenue range: 50M - 100M 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.
Press release: view release
Acquirer: investcorp