The Intersnack Group to acquire Tyrrells’ international portfolio of better-for-you, premium snack brands
17 May 2018
The Intersnack Group is delighted to announce that it has reached agreement for its KP Snacks business to acquire Tyrrells, Inc. and its global portfolio of better-for-you, premium snack brands (“Tyrrells”) from The Hershey Company and its subsidiaries for an undisclosed sum.
The Tyrrells business includes a Head Office and two manufacturing sites in the UK, along with US manufacturing capabilities, the Aroma Snacks business in Germany and Yarra Valley Snack Foods in Australia.
Mark Thorpe, CEO of KP Snacks, says: "Tyrrells is an iconic brand with a big personality that has performed well both in the UK and international markets. Subject to completion of the deal, we look forward to welcoming our new Tyrrells colleagues into the business. This acquisition is a fantastic opportunity for us to add premium hand-cooked crisps to the KP business and a brand which further increases our capability in the sharing category. We can now offer our consumers and customers a total savoury snacking category portfolio. I am delighted that Tyrrells will be joining us to help maintain our momentum as the UK’s fastest growing scale snacks manufacturer and also enable us to continue to grow the brand across the international markets.”
Maarten Leerdam, Executive Chairman of Intersnack Group, says: “The Intersnack Board is delighted about this opportunity. It is an excellent strategic fit which not only strengthens our market coverage in the UK and France with the Tyrrells brand but also adds Aroma Snacks in Germany and their promising brand Lisa organic potato chips. Last but not least we extend our international footprint towards Australia via Yarra Valley Snacks with Tyrrells and the local better-for-you brands Thomas Chipman and Wholesome.”
Malcolm Burns, Managing Director of Tyrrells International, says: “We are delighted that Tyrrells will be joining the KP Snacks family. I am incredibly proud of everything the Tyrrells team has achieved, starting in our farmhouse kitchen 16 years ago to become a brand loved internationally across more than 40 countries. We bring our award winning capabilities in hand cooked crisps and popcorn to join with the UK’s fastest growing scale snacks manufacturer. KP Snacks offers a great long term home for Tyrrells, Aroma and YVSF, providing a stable platform for growth over the coming years. Together, we will be able to offer our consumers and customers a total savoury snacking category portfolio.”
The transaction is subject to approval by the regulatory authorities, upon which the Intersnack, KP and Tyrrells teams will work closely to ensure a seamless transition for customers, consumers and colleagues. It will be business as usual in the intervening period.
For further information, please contact:
KP Snacks: Keren McCarron, tel: +44 7767 110 365 email: email@example.com
Intersnack Group: Bernd ter Glane, tel: +49 173 9689 247 email: firstname.lastname@example.org
Notes to Editors:
About KP Snacks
KP Snacks is the UK’s number one manufacturer of nuts and number two manufacturer of bagged snacks. We make some of Britain’s most iconic snack brands including McCoy’s, Hula Hoops, Butterkist, KP Nuts, POM-BEAR, Skips, Space Raiders, Discos, Nik Naks, Wheat Crunchies, Roysters, Brannigans and Frisps. We also produce many fantastic products for the UK’s leading retailers. We are proud that millions of people enjoy our snacks, every day!
We employ over 1,800 people in the UK across our six manufacturing sites and our head office in Slough, Berkshire. KP Snacks is proud to be part of the Intersnack Group.
About Intersnack Group
Intersnack is one of the leading manufacturers of savoury snacks in Europe, with 50 years of experience. The Group has experienced strong growth, both organically and through several successful acquisitions. It achieved a turnover of €2.5bn, employing more than 8,400 people in Europe. The Group pursues a multi local business model, offering a broad portfolio of more than twenty local and international brands and covering all snack categories.
Founded in 2002 and located in Herefordshire, England, Tyrrells is a diversified, international snacking brand including iconic, market-leading brands including Tyrrells Potato Crisps, Tyrrells branded Vegetable Crisps, Tyrrells Poshcorn, Tyrrells Nibbles and Tyrrells Tortillas in the UK, Europe and many other international markets; Yarra Valley, manufacturer of Thomas Chipman and The Wholesome Food Company brands in Australia; and Aroma Snacks, manufacturer of Lisa’s kettle chips in Germany.
The Hershey Company, headquartered in Hershey, Pa., is an industry leading snacks company known for bringing goodness to the world through its iconic brands, remarkable people and enduring commitment to help children in need. Hershey has approximately 17,000 employees around the world who work every day to deliver delicious, quality products. The company has more than 80 brands around the world that drive more than $7.5 billion USD in annual revenues, including such iconic brand names as Hershey's, Reese's, Jolly Rancher, Ice Breakers and SkinnyPop.
Intersnack Group and KP Snacks were advised by Houlihan Lokey, EY and McDermott Will & Emery.