Private equity firm Langholm Capital puts crisps maker Tyrrells for sale

Tyrrells, a UK-based producer of premium crisps, has been put up for sale by its owner Langholm Capital for £100m, a move which has drawn the interest of private equity firms as well as food companies.

Private equity firm Langholm Capital, which is backed by Dutch conglomerate Unilever, acquired a majority stake in Tyrrells from potato farmer William Chase in 2008 for £40m.

Following the acquisition, Langholm Capital expanded Tyrrells’ operations into overseas markets such as China, India, Canada and the US.

Tyrrells is likely to draw interest from food giants including Kelloggs, Tangerine, Calbee, Hain Daniels, the UK unit of Hain Celestial, as well as Germany’s Intersnack.

Langholm Capital has appointed McQueen financial advisers to handle the sale.

The sales memorandum was sent out to potential buyers last week and first round bidding is expected to be held next month.

Tyrrells, established in 2002 and based in Herefordshire, England, is a manufacturer of hand-cooked potato crisps.

The company offers a wide range of crisps in gourmet flavours including Lightly Sea Salted, Sea Salt & Cider Vinegar, Mature Cheddar & Chives, Sweet Chili & Red Pepper, Sea Salt & Cracked Black Pepper, Worcestershire Sauce & Sundried Tomato, Beetroot, Parsnip & Carrot Chips with a pinch of Sea Salt.

It has a presence in more than 20 countries, with its strongest markets being the UK, US, Canada, Germany and France.

Tyrrells exports its products to over 30 countries worldwide and employs 150 people.

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Image: First round bidding for Tyrrells is expected to be held next month. Photo courtesy of SOMMAI / FreeDigitalPhotos.net.