Investcorp, a global provider and manager of alternative investment products, today announces it has agreed to the sale of Crisps Topco Limited (“Tyrrells” or “the Company”) to Amplify Snack Brands, Inc. (“Amplify”) (NYSE:BETR) for an enterprise value of £300m.
Founded at Tyrrells Court Farm, Herefordshire, in 2002, Tyrrells is a premium manufacturer of hand-cooked potato and vegetable crisps, popcorn and other savoury snacks. Investcorp acquired Tyrrells in August 2013 for £100m since when sales and EBITDA more than doubled. International markets now account for close to 40% of sales compared to 20% three years ago.
Having previously advised management when Investcorp acquired the business, Jamieson Corporate Finance again provided advice to the management team on this latest sale to Amplify.
“This is the second time we have worked with Jamieson, and once again they have provided us with unparalleled support and sound advice that has made a material difference to all members of our team. We would have no hesitation recommending Tom and his team.”
David Milner, CEO