TYRRELLS
Acquired by
INVESTCORP
TYRRELLS acquired by INVESTCORP
Target
TYRRELLS
Acquirer
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.
The transaction values TYRRELLS at an EV/Revenue multiple of LOGIN.
This transaction is part of the AgriFood industry, which currently tracks an average EBITDA multiple of 10.1x since the beginning of 2026, 9.8% decrease compared to 2025. This data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.
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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
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Equity Value
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Multiples Analysis
EV / Revenue
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EV / EBITDA
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EV / EBIT
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Historical Financials (EUR)
Other operations with TYRRELLS
| Date | Acquirer | Target | Country | Sector | Deal Context |
|---|---|---|---|---|---|
| 09/2016 | AMPLIFY SNACK BRANDS | TYRRELLS | UNITED KINGDOM | Food Products | 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. |
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