SLOUGH, BERKSHIRE — KP Snacks, a subsidiary of the Intersnack Group, has reached an agreement to acquire the Tyrrells snack business from The Hershey Co. Financial terms of the transaction were not disclosed.
The deal includes Tyrrells’ main office and two manufacturing sites in the United Kingdom, along with U.S. manufacturing capabilities, the Aroma Snacks business in Germany and Yarra Valley Snack Foods in Australia.
“The Intersnack board is delighted about this opportunity,” said Maarten Leerdam, executive chairman of Intersnack. “It is an excellent strategic fit that not only strengthens our market coverage in the U.K. 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 toward Australia via Yarra Valley Snacks with Tyrrells and the local better-for-you brands Thomas Chipman and Wholesome.”
Mark Thorpe, chief executive officer of KP Snacks, described Tyrrells as “an iconic brand with a big personality” that has performed well across the world.
“This acquisition is a fantastic opportunity for us to add premium hand-cooked crisps to the KP business and a brand that further increases our capability in the sharing category,” Mr. Thorpe said. “We can now offer our consumers and customers a total savory snacking category portfolio. I am delighted that Tyrrells will be joining us to help maintain our momentum as the U.K.’s fastest growing scale snacks manufacturer and also enable us to continue to grow the brand across the international markets.”
Founded in 2002 and located in Herefordshire, England, Tyrrells is a diversified snacking brand that includes Tyrrells Potato Crisps, Tyrrells branded Vegetable Crisps, Tyrrells Poshcorn, Tyrrells Nibbles and Tyrrells Tortillas in the U.K., Europe and many other international markets; Yarra Valley, manufacturer of Thomas Chipman and The Wholesome Food Co. brands in Australia; and Aroma Snacks, manufacturer of Lisa’s kettle chips in Germany.
Amplify Snack Brands, Inc., owners of the SkinnyPop and Paqui snack products, acquired Tyrrells’ parent, Crisps Topco Limited and Subsidiaries, for around $391 million in 2016. The Hershey Co. subsequently acquired Amplify (and the Tyrrells brand) for $1.6 billion in December 2017.
Intersnack Group employs more than 8,400 in Europe and has annual revenues of approximately €2.5 billion. The company’s KP Snacks business is a manufacturer of nuts and bagged snacks, employing more than 1,800 people across the U.K. at six manufacturing sites. KP Snacks brands include McCoy’s, Hula Hoops, Butterkist, KP Nuts, POM-BEAR, Skips, Space Raiders, Discos, Nik Naks, Wheat Crunchies, Roysters, Brannigans and Frisps.