Intersnack Group subsidiary KP Snacks has agreed a deal to acquire premium snacks brand Tyrells from The Hershey Company for an undisclosed sum.
KP Snacks will acquire Tyrrells’s head office and two manufacturing sites in the UK, along with its US manufacturing capabilities, the Aroma Snacks business in Germany and Yarra Valley Snack Foods in Australia.
Hershey only acquired the premium snacks brand in December 2017 as part of a $1.6 billion deal for its parent company Amplify Snacks Brands.
The deal is subject to approval from the UK’s Competition and Markets Authority (CMA), and the businesses will continue to operate as separate entities during the approval period.
This acquisition will add to KP Snack’s extensive range of snack brands, which includes McCoy’s, Hula Hoops and Butterkist.
Mark Thorpe, CEO of KP Snacks said: “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 added: “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 said: “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.”
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